Locally, trade as usual; exports remain low so far in the season

June 13, 2017 at 7:57 AM , Starry Night Ltd.
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Favorable weather conditions during the summer could increase the yield of harvest 2017-18. Domestic trade supports somewhat a stable price.

For the period 2014-16, harvest 2016-17 was characterized by the lowest aggregate output – 2,226,094 mt.  Two factors affected crop production: planted land and average yield. Planted areas depend on the cultivation strategies of farmers while the yield is mainly affected by weather conditions.

Corn: foreign demand and weather conditions are drivers for success

SOFIA. The higher the demand for the crop on the local and foreign markets, the more arable land will be allocated. Unfortunately, total foreign demand for the crop, on a yearly basis, has been following a downward trajectory during the last three years.  According to the USDA report on Bulgarian Grain and Feed Annual, exports have been sliding down from 2,062,000 mt for harvest 2014-15, to 1,325,000 mt for harvest 2015-16 while by the end of May 2017, released data by the Ministry of Agriculture shows exports to have reached 885,121 mt.

The summer droughts of 2016 reduced the yield of the crop to 5.47 mt/ha, which was close to that of the previous year. Favorable weather conditions could positively affect the yield, as was the case during harvest 2014-15 with an average yield of about 7.7 mt/ha.

Going in the middle of June 2017, local trade seems to support a somewhat stable price.

Corn, Bulgaria

Crop

EUR/kg

corn

0.152

EXW Bulgaria

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