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Wheat: mounting exports

July 27, 2017 at 8:54 PM , Starry Night Ltd.
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The quality of the crop is much higher this season. Farmers are hopeful for higher prices, yet to no avail so far.

Prospects seem encouraging so far

SOFIA. Although hailstorms uncompromisingly “harvested” some fields throughout the country, leaving a few farmers of some regions with almost empty barns, according to local farmers from the North and Southeast regions, overall the quality of the crop this year is higher than that of the last one.

Prosperous weather conditions during the Winter and early Spring favored the development of the crop. The last update by the Ministry of Agriculture, which was estimated before the hailstorms hit, forecasted an aggregate output of about 5,200,000 mt, but the stronger yield this year could push the figure up.

Market developments

According to the Ministry of Agriculture, by last Friday, estimated collected wheat reached a little more than 4,500,000 mt. The amount of combined wheat came from a harvested area that represented 78% of total available arable land for harvest this season.

Harvest 2017-18

(01.07.2017 - 21.07.2017)

Carry over

   179,000 mt

Domestic output

4,514,268 mt

Domestic consumption

     92,400 mt

Exports to the world

   183,800 mt

Source: Bulgarian Ministry of Agriculture

Ships have been lined-up for exports and quantities exported go up by the week. Although the quality of the crop this year is higher, prices of milling and feed wheat differ only by 5EUR/mt.

Farmers expect prices of milling wheat this season to go up because of the high protein content, but competition in the Black sea region has always exerted pressure on local prices.

Wheat, Bulgaria

Type

EUR/kg

milling wheat

0.148

feed wheat

0.143

EXW Bulgaria

 

 

 

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