• Wheat sales put Romania in first place on the Egyptian market, the world's largest buyer
• Wheat quotations registered on the stock exchange reached the threshold of 284 euros/ton, the highest level recorded in the last 13 years
European wheat sales exceeded all estimates. Countries around the world are buying unprecedented amounts of European wheat after the poor harvests recorded by other major exporters, reports Bloomberg.
The European Union's wheat exports could exceed the threshold of 11 million tons by the end of this month, recently estimated Nathan Cordier, analyst at Agritel consulting firm. Such a volume would be 25% higher than that recorded in the same period last year and also the highest value ever recorded at this time of the agricultural season. This demand has led to the rise of futures quotations for bread wheat to a record level. At the end of October, at the Paris Stock Exchange, wheat quotations reached 284 euros per ton, the highest level recorded after 2008.
Romania has overtaken Russia on the Egyptian market
European wheat covers a shortfall caused by reduced supplies from other parts of the world as well as the effect of export taxes that have reduced wheat sales of Russia, the world's largest exporter, according to Digi 24. Romania, after a consistent harvest this year, has passed in front of Russia and dominates wheat sales on the Egyptian market, the world's largest buyer.
Drought has affected North American wheat crops which have now turned to high protein wheat from northern Europe. And Algeria followed the same trend, and China chose to buy large quantities of wheat from France.
EU wheat sales amounted, at the end of October, to more than nine million tons
Figures made available by the European Commission show that at the end of October, the European Union's wheat sales amount to nine million tons, not including France's exports. Calculations made by the US government estimate exports of 35,5 million tons of European wheat for the current agricultural season, which will end in June 2022.
Rating "exceptional" for the 2021 agricultural harvest
In mid-August 2021, the total wheat production harvested in Romania was 11,33 million tons, the highest production recorded by our country since joining the European Union. It is precisely for this performance that the Group on Earth Observations Global Agricultural Monitoring Initiative (GEOGLAM) awarded our country the "exceptional" rating.
Good yields were also obtained in: barley, rye, spelt, oats, buckwheat, as well as sunflower.
2020 – year with problems due to drought
The figures for 2021 are all the more impressive as last year, the Romanian agricultural harvest was reduced by approximately 40% due to the drought (6,4 million tons of wheat). We remind you that Ministry of Agriculture and Rural Development stated that the best years since 2007 to date were: 2017 – 10,03 million tons of wheat, 2018 – 10,14 million tons and 2019 with 10,29 million tons.
Read on White Art and 11,33 million tons of wheat harvest, on August 16, 2021, in Romania
