Bulgaria’s Grain operation

This country is a net grain exporter: in 2020 it was the 13th biggest producer with close to 3.2 million t of sales abroad worth nearly USD 700 million. One reason for the considerable export is that the quantity produced every year is several times more than what the domestic market can absorb, which is 1.5 to 1.7 million t (including human consumption, animal feed and seed). The last harvest was a four-year high of 7.2 million t. Because of the war in Ukraine, the State decided to intervene on the grain market and buy from producers and traders some 1.1 million t of wheat, maize and sunflower for subsistence for years ahead, reported Capital. 

Prime Minister Kiril Petkov said that the government would do that within days and that the grain would be purchased at market prices. Agriculture Minister Ivan Ivanov added that offers will be placed through the Sofia Commodity Exchange. Representatives of the grain sector complain that the government is offering half the market price and that grain exports are being unlawfully held up. Experts warn of a risk that the government may spend money on poor-quality grain and create problems for the storing of the new harvest.

Source: Capital.bg
 

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