Bulgaria to Export over 2 M Tonnes of Wheat in 2014

Business | September 21, 2014, Sunday // 16:35
Bulgaria: Bulgaria to Export over 2 M Tonnes of Wheat in 2014 Photo by BGNES

Bulgaria to export over 2 million tonnes of wheat in 2014, despite the lower yields compared to 2013, according to Ignat Angelov, Chair of the Union of Agricultural Cooperatives “Danube 2000.”

In a Sunday interview for Radio Focus – Veliko Tarnovo, Angelov argued that the decrease by 10-15% in the yield in the 2013-2014 agricultural year would not have a negative impact on exports.

He informed that the total bread wheat yield in 2013 had amounted to over 4 million tonnes, adding that it was expected to reach a similar level in 2014, at around 4 million tonnes.

He said that Bulgaria’s consumption traditionally stood at 1.8-2 million tonnes, meaning that there would be enough wheat to meet local demands.

He said that the decrease in purchasing price of wheat was supposed to result in lower bread prices

Angelov dismissed forecasts of increases in bread prices due to the upcoming power price hike, stressing that electricity accounted for 5-6% of the total cost of bread, compared to a share of 75-80% of wheat.

He said that purchase prices had decreased on an annual basis, with wheat trading at BGN 260 per tonne, compared to BGN 290 per tonne in 2013, and sunflower selling for BGN 500 per tonne, compared to BGN 550 per tonne in 2013.

Angelov claimed that the downward trend was not a good start for the new agricultural year as the revenues from the production hardly sufficed to cover expenses for the cultivation of the crops.

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Tags: wheat, wheat prices, exports, agricultural producers, bread makers, electricity prices
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