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"The effects of consumption-based growth due to wage increases are not sustainable"
Sebastian Metz, AHK Romania»

Romania could become the main producer of rapeseed from the Black Sea

2016-08-20 02:35:42 - From the Print Edition

Agriculture could record, in 2016, the best results in the last decade; a total business of 24.5 billion RON (almost 5.5 billion Euro), due to favourable spring weather, investments, consumption recovery and price developments, according to a report by Dekalb analysis, a division of Monsanto, quoted by Mediafax. Figures show that the local wheat market will register in 2016/2017 the fifth consecutive season of growth in terms of wheat productivity and the fourth consecutive wheat harvest exceeding the threshold of about seven million tonnes. The same report showed that a record production is expected in the rapeseed segment, 1.3 million tonnes, up 35 per cent over the volume harvested the previous season, Romania being positioned to become the main producer of rapeseed from the Black Sea. According to estimates by officials of Romanian Commodities Exchange (BRM), this year prices of agricultural production will remain at 150-160 Euro/tonne for wheat, 150-155 Euro/tonne for maize, and over 380-390 Euro/tonne in terms of rapeseed. The evolution is encouraging given the fact that in the past three years, the price of wheat has decreased by 25 per cent and that for maize by 15-17 per cent, notes Mediafax.

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