Romanian grain traders report lower turnover in 2009
The local branches of three international giants Alfred C. Toepfer, Cargill and Glencore, employing some 300 people, reported a turnover of EUR584 million (US$730.3 million) from grain trade last year, down EUR175 million (US$218.8 million) from one year earlier.
The lower amount of grain produced in Romania and especially the low prices of agricultural produce showed in the sales of the three traders last year, which affected their profitability.
Two years ago, each of the three companies had earned profit.
In 2009, the situation changed radically, and three traders slipped into the red, posting a cumulated loss of EUR15.3 million (US$19.14 million) from a EUR13.5 million (US$16.89 million) profit the year before. The worst decline was reported by Cargill, which posted EUR227 million (US$283.9 million) turnover in 2009, down over 30% compared with 2008, and EUR13 million (US$16.26 million) losses from a EUR2.7 million (US$3.38 million) profit one year earlier.
