According to ZF calculations, a 19.1 million ton harvest would translate into EUR2.5 billion for Romania’s economy.
Traders estimate the local wheat production at 7.6 million tons this year, up 11% compared to Coceral estimates at the end of June and 5% higher than figures presented by the Agriculture Ministry this summer.
The country’s corn production is currently seen at 9.7 million tons, up 6.5% compared to June estimates.
Other players on the market see Romania’s corn production at approximately 11 million tons.
Traders also revised upward estimates on grain production in Europe, which is seen at 302.9 million tons, up 2.7% compared to estimates in June and up 9.9% compared to results reported for 2012.