In Bulgaria, farmers have returned to grain harvesting and are refusing to sell

Published 2024년 11월 20일

Tridge summary

Bulgarian wheat sales are being postponed as producers and traders anticipate higher prices, following a significant drop in corn and sunflower seed yields due to extreme weather conditions. The country's corn yields have fallen by 35% year-on-year and 50% compared to the 5-year average, leading to a 38% decrease in harvest. This is expected to have region-wide implications, especially for sunflower seeds. The Bulgarian Ministry of Agriculture is prioritizing the restoration of irrigation infrastructure to benefit spring crops, as climate change continues to pose a challenge. Despite a bumper winter wheat harvest in 2024, producers and traders are holding back on sales due to a global oversupply and low prices, with a surge in sales expected in Q2 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Producers and traders in Bulgaria are postponing wheat sales for another year in anticipation of higher prices. “The spring crop harvest season has ended, and now we can say with confidence that the extremely negative forecasts for the harvest in Bulgaria this year have unfortunately come true. The hottest and driest summer on record has led to a sharp, double-digit drop in yields and production of both corn and sunflower seeds, with corn being particularly hard hit. Given that Bulgaria is one of the key exporters of both commodities to the EU, it is expected that this decline could affect the overall market situation in the region, especially for sunflower seeds,” LVVN Attaché reports, citing the Bulgarian Ministry of Agriculture. According to the Bulgarian Ministry of Agriculture, corn yields have fallen by 35% year-on-year and by 50% compared to the 5-year average, to 2.73 t/ha. With acreage down 5%, this season’s corn harvest is 38% lower than in 2023 at nearly 1.4 million ...

Source: Zol