Chinese grain trader boosts business in Romania by 50% and becomes market leader
The Romanian subsidiary of Chinese group COFCO International (which took over Nidera and its operations in Romania, in 2016) ended 2018 with a turnover of RON 3.9 billion (EUR 839 million), 50% higher than one year earlier, Ziarul…
Romania Insider · Journalist
· Updated · 1 min read
The Romanian subsidiary of Chinese group COFCO International (which took over Nidera and its operations in Romania, in 2016) ended 2018 with a turnover of RON 3.9 billion (EUR 839 million), 50% higher than one year earlier, Ziarul Financiar daily quoting data from the Ministry of Finance informed.
The Chinese grain trader thus holds the leading position in the local trading market, in a year when all the top ten players reported positive growth rates.
The competitors of COFCO, respectively Ameropa Grains, ADM Romania Trading, and Cargill Agricultura, increased their businesses, but at lower rates. Thus, Ameropa Grains increased its business by 20%, ADM Romania by 22%, while Cargill Agricultura posted a 23% advance over the previous year.
In 2017, COFCO International ranked third among local traders by turnover. However, the Chinese trader was the leading exporter both in 2018 and 2017.
With a grain production of over 31 million tonnes, Romania ranked third in Europe last year, after France and Germany, Eurostat data shows.
(Photo source: Denys Kovtun/Dreamstime.com)
