February stocks of wheat are melting the fastest, with sunflower exports do not budge in Bulgaria

Wheat

Canola Seed & Rapeseed

Published Mar 2, 2024

Tridge summary

Bulgaria's grain stocks have remained high for the second year in a row, indicating a lack of adequate returns on billions of BGN invested. As of February 2024, the country held 5,707,105 tons of wheat, corn, sunflower, barley, and rapeseed, a decrease from 7,412,731 tons in the previous year. Despite low global prices, wheat exports have seen a significant increase, while sunflower trade remains unchanged. High stocks of corn and sunflower are attributed to weak domestic realization. However, Bulgaria has managed to reduce stocks by finding new trade partners in third countries.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In two consecutive years, grain stocks in Bulgaria at the end of February remain too high, and this means billions of BGN invested in this production, without adequate realization of these investments. If we compare this year with last year, we will see that the hoop is not tightened as much in 2023. And if on February 24, 2023, unsold 7,412,731 tons of wheat, corn, sunflower, barley and rapeseed were reported in the country, then on February 23, 2024, the hoop around the farmers was slightly loosened, with stocks of the five crops amounting to 5,707,105 t. We do this comparative analysis in the second month of this year and last year to see what stocks of wheat, barley, sunflower and corn our country has 4 months before the harvest. Usually this is the period when farmers need new working capital for sowing and should get rid of stocks, but for the second year, due to low world prices, farmers have no chance to realize their production. In contrast to wheat, where at the end of ...

Source: Sinor