Bulgarian Wheat to Be Exported as Romanian
A significant part of this year's Bulgarian wheat is expected to be exported through Romania.
The reason is that Romania won a wheat supply auction in Egypt and Bulgaria couldn't participate in it.
Wheat from the Bulgarian Dobrudzha region can easily be bought by Romanian traders, loaded onto ships at Romania's Constanta dockyard and shipped to Egypt, people from the industry say, cited by Standart News.
They remind this isn't the first year where Bulgaria's wheat will be exported as Romanian.
Last year saw a similar situation, as the Bulgarian wheat was much cheaper than the one in the Black Sea region.
Traders used this opportunity to buy big quantities of this cheap and high quality wheat to later export it via Romania and sell it for much higher prices, wheat growers in Bulgaria explain.
This year the government tried everything possible to stop the problem from reoccurring and to allow Bulgarian producers and traders to directly sell to Egypt for a better profit.
"We have to say with regret that despite the big efforts of the Chief Directorate Grain and Grain Products and the Bulgarian Embassy in Egypt we couldn't register the Bulgarian wheat in Egypt and Bulgaria's participation in the auctions, organized by Egypt's state buyer GASC, Directorate CEO Dr. Zlati Zlatev admitted.
Producers are also concerned with the quality of the wheat.
According to Stoyan Stoyanov from The National Grain Producer Association (NGPA) the wheat will have to be dried, which further raises the cost of production.
- » Bulgaria Regrets Russia’s Decision to Quit South Stream - Ambassador
- » Bulgarian Ambassador Vows Visa Simplification for Russian Tourists in 2015
- » Gazprom Approves Capital Increase of South Stream Transport B.V.
- » Reuters: Bulgaria to Open Eurobond Sales Roadshow on 16 March
- » Bulgaria Coalition Member Demands FinMin's Resignation over New Debt
- » Bulgaria’s Gross External Debt Exceeded EUR 39.5 B in end-December 2014