“A total volume of 4.3-4.5 million tons of grain worth around
EUR1.3 billion were shipped through harbors,” estimates Victor
Beznea, taking into account an average export price of EUR300/ton
(FOB Constanta).
Exports registered between June 2010 and May 2011, foreign traders’
fiscal year, are about 400,000 tons higher than the level reported
in the previous year.
The increase was the result of the high demand in the Black Sea area, triggered by the export ban imposed by Russia last summer.
The increase translates in EUR120 million higher exports.
Traders expect wheat, corn and sunflower production will rise this
year, while rapeseed and barley production will decrease due to
smaller cultivated areas.
However, the biggest gain for the agricultural sector this year is likely to come from the introduction of reverse taxation (i.e. VAT will not be paid by every link in the grain trade chain, but only by the final buyer). This will bring out in the open several million tons of grain that had so far been absent even from statistical data.