Grain businesses double in Romania in seven years

Businesses in grain production doubled in Romania in the last seven years, from RON 8.34 billion (EUR 1.8 billion) in 2009 to RON 16.1 billion (EUR 3.5 billion) in 2015, according to a study by KeysFin analysts. Almost 7,200 companies, with over 40,000 employees, were active in grain production in Romania in 2015. The number of companies grew by almost 30% compared to 2009. The biggest number of such businesses were in the counties of Timis (550), Constanta (541) and Teleorman (362). The sector’s profitability increased more than five times to RON 1.66 billion (EUR 361 million) in 2015, because of the significant investments in optimizing production. Calarasi-based firm Agro-Chirnogi ranked first last year in the local grain market. The company, with 623 employees, recorded a turnover of EUR 209 million last year, almost double compared to the previous year. Its net profit reached EUR 2.6 million in 2016. Grain, tobacco and oil seeds remained the most exported agri-food products in the first quarter of this year. Romania exported EUR 470 million worth of grain during this period. editor@romania-insider.com