Over 3 Million Tons Grain Harvest Expected This Year.
21.06.2000
This year's grain harvest is expected to be more than 3 million tonnes, Deputy Minister of Agriculture and Forestry Georgi Kirilov said. According to projected figures, the average yield of wheat will be between 2,900 and 3,000 kg/ha and of barley - between 2,600 and 2,750 kg/ha. According to estimates of experts of the Agriculture Ministry, wheat will initially sell at not less than BGN 134-155 per tonne. Calculations show that this price will make possible to cover the expenses of a manufacturer who operates with average efficiency, the Ministry says. Agriculture Minister Vurbanov advised the farmers not to hurry to sell their crops but to store it in licensed public warehouses. The Agriculture State Fund will cover the expenses for the storage, including the charges in the differential loans for the farmers, Vurbanov said. Warehouse receipts will be sufficient guarantee for the granting of loans both from the Agriculture State Fund and from the private banks. The grain shortage in Central Europe opens good opportunities for the export of Bulgarian wheat. Head of the Sofia Commodity Exchange Hristo Milenkov promised to the manufacturers to sign with them futures deals for payments at market prices. The warehouse receipts will be a sufficient guarantee for advance trade, he reminded. The increased sales through the exchange may regulate in the fastest and easiest way the grain market in Bulgaria, Milenkov said