January 14, 2011

Bulgaria's wheat prices equally favourable for export, local market

Projected wheat prices for both export and the local market are currently very favourable for Bulgarian millers, compared to the post-harvest period last year, according to the chairman of the Advisory Board on Grain, Krasimir Avramov.

The convoked extraordinary sitting of the Advisory Board on Grain will be focused on finding the exact amount of wheat in the country. At the moment price of wheat for export and on the local market are equal, Avramov said.

Mainly wheat fodder is demanded for export at price of about BGN380-420 (US$259.04 - US$286.32) per tonne, and the price of the quality wheat for flour offered by the Bulgarian mills reached BGN450 (US$306.78) per tonne. When small amount of quality wheat is purchased it could be used for bettering the quality of the wheat fodder, which is widely spread in Bulgaria, Avramov specified.

Today situation is completely different compared to the situation after the harvest-time when prices on the local market were much lower that the export prices. "The present situation is more favourable and there is no risk of export of 250,000 to 300,000 critical tonnes of wheat", he said.