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Yields are lower so far

June 30, 2017 at 6:57 AM , Starry Night Ltd.
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In some regions, farmers have realized lower average yields on a yearly basis. Remaining stocks are quickly depleted.

Wheat: regional division matters

SOFIA. The great majority of wheat is harvested throughout the North regions. According to the Ministry of Agriculture, for harvest 2016-17, which was estimated at 5,662,721 mt, the North regions represented an output share of 70.46%; the Southeast contributed a share of 18.40%; while the rest came from the Southwest and central South regions.

Usually, average yields from the aforementioned regions follow in order: for instance, in the Golden Granary of Bulgaria – the Northeast region, the average yield of harvest 2016-17 was calculated at 5.57 mt/ha while that from the Southwest stood at 3.23 mt/ha. The difference is substantial!

So far in the season, average yields seem to lack behind those of the previous year by as much as 10% in some places. The weather conditions always affect the yield potential. It is too early to bet on the final result yet though! Harvest has not yet started on a mass scale.

Current market developments

Harvest 2016-17 recorded the highest wheat output for the last two decades. As a result, exports skyrocketed (See the table below).

Harvest 2016-17

(01.07.2016 - 23.06.2017)

Carry over

420,000 mt

Domestic output

5,662,721 mt

Domestic consumption

1,759,100 mt

Exports to the world

4,143,623 mt

Source: Bulgarian Ministry of Agriculture

By the end of last week, remaining stocks stood at 222,913 mt.

Wheat, Bulgaria

Type

EUR/kg

milling wheat

0.145

feed wheat

0.140

EXW Bulgaria

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