Bulgaria. High demand for wheat supported domestic prices

18.08.2016

Grain market in Bulgaria remains quite active. Bulgarian Ministry of Agriculture informs about the second record wheat harvest this year. The maximum gross yield was obtained in 2013 reaching about 5.5 MMT.

According to UkrAgroConsult, increase in prices continues in wheat market. Over the week export price for Bulgarian milling wheat (11.5%) increased by USD 2/MT and reached USD 170-172/MT FOB for August delivery. The demand for wheat from traders remains high. In some regions of Bulgaria feed wheat market became more active and supported domestic prices. Bulgarian wheat of new crop is exported actively mostly outside the EU, most likely wheat of fodder quality.

Significant rise in domestic prices for corn is observed at the background of increasing demand and limited supply. Due to concerns regarding corn harvest in 2016 producers aren't in hurry to sell the remaining old corn crop, expecting further price increase.

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 & Oil" and "Online market review" by UkrAgroConsult.

 

 

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