Grains - Grains

Wheat: No need to worry?

November 14, 2016 at 1:09 PM , Der AUDITOR
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SOFIA. Sowing in Bulgaria has so far failed to keep up with last year. But market participants are nevertheless confident. Is there a need to worry?

Decrease in sowing
Local farmers have already started sowing wheat with acreage currently standing at 830,036 ha. This is a nominal decrease of 0.8% as compared to the same period last year since 836,583 ha had already been sown. The decrease poses no concern for the export market since the farmers from the different regions of the country move at different speeds, depending on the weather.

What is happening in the Bulgarian granary?
The farmers in the Northeast have for instance only sown 113,097 ha of the 134,600 ha envisaged for this year’s the crop. But it should also be noted that last year’s total acreage only amounted to 119,400 ha in the region. The Northeast is called Dobrudzha. It is famous for its high-quality milling wheat. As a result, the biggest producers are based here, which is why the region is known as the Bulgarian granary.

Milling wheat is currently trading for 0.146 EUR/kg CPT domestic port while feed wheat is sold for 0.143 EUR/kg CPT domestic port.

 

Wheat, Bulgaria

type

EUR/kg

milling wheat

0.146

feed wheat

0.143

CPT domestic port


 

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