Bulgaria. Domestic grain prices increased due to a harvest delay

06.07.2017

Upward price trends were seen in Bulgaria’s domestic grain market this past week. Purchase prices were pushed up by a harvest delay and a later grain arrival into the market this year along with exhausting stocks of old-crop wheat and barley in the country, reports UkrAgroConsult.

As a result of record wheat exports in 2016/17 season, Bulgarian carryovers are now at a three-year low. According to Bulgaria’s Ag Ministry, wheat inventories in Bulgaria totaled some 223 KMT as of June 23. Exports by the reporting date exceeded market forecasts by 3.6% and reached 4143.6 KMT.

The domestic corn market is supported by growth of feed grain prices and shrunk supply in the market. Corn exports are still slow, lagging almost 20% behind last year. Corn prices receive additional support from dry weather in the country along with concerns about another low corn yield this year.

More information on price behavior on grain market in the countries of Black Sea region is available to subscribers for weekly market report "Black Sea Grain and Oil" and "Online market review" by UkrAgroConsult.

 

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