Intercereal Ialomita, which operates almost 11,300 of hectaresof farming land, the sixth largest farming area in Romania, expectsto derive a 12 million-euro turnover this year, 30% less than lastyear, when it posted a 15.5 million-euro turnover, amid a lowercereal production. The company ranks sixth among companies thathave submitted applications for direct subsidies per hectare,leaving behind much better known owners, such as Mihai Anghel, whofarms 9,500 hectares of land via one company, Cervina, and StefanPoienaru, who has 7,000 hectares from Agrofarm Prod, according tothe Agency for Agricultural Payment and Intervention. "Consideringthat both us and the producers we are working with will have alower production than in 2008, as well the fact that we still havewheat stocks left from last year, will see our revenues down - theywill amount to up to 50 million RON (12 million euros)," GheorgheNica, general manager of Intercereal, told ZF.
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