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Romanian exporters advantaged by wheat price increase

Romanian wheat is much cheaper than the one from abroad, stimulating the cereal traders to boost their exports, according to representatives of the profile employers' unions.

'At present, locally produced wheat, brought to the mill, bears a price of 245 euros/ton, but the wheat exporters get about 255 euros/ton, whereas the price on the international markets climbed to 300 euros/ton and even higher', announced Aurel Popescu, president of the Employers Union of Milling and Baking Industry Rompan. He also said that, somewhere in April, when the domestic wheat stock will be exhausted in the silos, we will be forced to import maybe the same wheat we had exported a few months ago, but the acquisition price is expected be 300 euros/ton or even higher. Dragos Frumosu, president of Food Industry Trade Unions (FSIA), says that Romania is going to import this year at least one million tons of wheat, given the consumption need of four million tons annually and in 2007 a production of two million tons of wheat was recorded. In his turn, Rompan president thinks that, from the moment when Romania will start importing wheat again, significant price increases are expected for bread and other baked products. According to traders, main countries from where Romania imports wheat are Hungary, Slovenia, Serbia, Russia and Bulgaria. As for the exports, main destinations of the Romanian wheat are Italy and Greece. In the first 11 months of last year, Romania exported to the European Union countries almost 150,000 tons of native wheat and in third countries almost 54,000 tons of wheat, according to data provided by the Ministry of Agriculture and Rural Development (MADR). Viorel Marin, president of the National Association of Milling and Baking Industries (ANAMOB) thinks that Romania is not facing a problem linked to wheat, but one connected to the prices. 'More than half of wheat imports are illegal, and these middlemen fail to pay VAT and keep the flour price very low. A kilogram of flour is sold for 1.20 lei at the most, but if the wheat were legally acquired, a kg. of flour should sell for 1.90 lei', said Viorel Marin (Wednesday BNR exchange rate: 1 euro trades for 3.7197 lei). According to Marin, due to the low flour price, the deposited wheat does not sell and the millers reduce production. Wheat market in Romania is estimated by the competitors at some five million tons, and according to the value it could cumulate more than 700 million euros. Sursa: http://www.rompress.ro

Tags: wheat price million romania euros romanian according euro bnr

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