Romania to harvest more than EUR 1.6 billion worth of wheat this year

Romanian farmers could harvest some 8.3 million tons of wheat this year, 3.4 percent more than last year according to a report from international grain trader Toepfer. “Romania and Bulgaria are again expecting bumper crops that will be ready for harvesting in about 5 weeks,” the report says. This is one of the causes which led to significant decline in wheat prices internationally along with the fact that in Northern Europe there are still large stocks from last year’s harvest in addition to the big crop this year. Contract prices for wheat with November delivery are now below EUR 200 per ton, the report shows. In current prices, Romania’s wheat production for this year would be valued at more than EUR 1.6 billion. This would be the largest crop this country has recorded in the last 27 years, according to Ziarul Financiar. Toepfer data shows that Romania is to consolidate its position as the fifth largest wheat producer in the European Union (EU). Largest producers are France, Germany, Great Britain and Poland. France should harvest some 36.66 million tons of wheat, while Poland, who’s currently number four is close to 10 million tons. Bulgaria’s wheat production for this year is estimated at 5.17 million tons. Romania should also see a significant increase in barley production this year, which should be 19 percent higher than last year, at 1.84 million tons, according to the report. Romania’s corn harvest, however, could see a 12 percent decline this year, to 9.18 million tons. Romania is the second corn producer in Europe, after France. Toepfer is one of the largest grain traders in the world. In Romania, the company’s business was EUR 427 million in 2012. Find the full report (PDF, in English) here. Andrei Chirileasa, andrei@romania-insider.com