“The market in which we operate, agricultural raw materials, had significant volatility last year, largely due to the war in Ukraine. Prices rose sharply after the invasion of Ukraine, amid fears about the supply of agricultural raw materials, as both Ukraine and Russia are among the world’s top exporters of agricultural raw materials,” Tamas Vincze, CEO of East Group, told ZF Transilvania.
“In the last two months of the year, however, the market calmed down, prices started to fall and the beginning of this year looks set to follow the same trend. After the market players have got used to this new reality, we expect a more stable year in terms of prices and we do not rule out a continued decrease, at least in the first part of 2023.”
East Group consists of five companies, the largest being East Grain, a trader of cereals, oilseeds, feed raw materials and fertilizers.
(English version by Loredana Fratila-Cristescu)