Businessman Adrian Porumboiu, who owns 47,000 hectares of farmland through Vaslui-based Racova Agro Pan group, has harvested 140 thousand tonnes of wheat and 36 thousand tonnes of rapeseed, a volume that exceeds results in 2006 and is double last year's volume.
"This year's harvest is very good; beyond expectations really and is also in line with the amount invested," Adrian Porumboiu, manager of Racova Agro Pan Grup told ZF.
Porumboiu had up until now declined to give any estimates as to the value or volume of this year's harvest, and said that he would provide all the data after the harvest. Last year, for example, was an unfavourable time for all Romanian producers, with adverse weather conditions being to blame for the extremely weak grain harvest.
Porumboiu announced at the time that they harvested 53 thousand tonnes of wheat - three times lower than the amount reported this year. Things were similar for rapeseed, after the overall harvest barely exceeded 19 thousand tonnes. For this year, the company has allocated more than three quarters of the surface available to the two crops (26 ha for wheat crops and 14 ha for rapeseed), which brings the average harvest per hectare to almost 5.4 tonnes of wheat and 2.6 tonnes of rapeseed.
"We will use the entire rapeseed harvest to produce biofuel at our plant in Vaslui. We already have a stock of 60 thousand tonnes, which we will use this year, 24 thousand tonnes of which have already been purchased from other producers," said Porumboiu.
In terms of the wheat harvest, part of it will be used by the company (around 80 thousand tonnes) with the rest to be sold, both locally and to foreign markets. If the current price at which the two cereals are traded were considered (140 euros/tonne for wheat and 470 euros/tonne for rapeseed), this would put Adrian Porumboiu's harvest at almost 40 million euros.
If the entire production harvested by the group were kept in storage until autumn, when a price increase for cereals is expected (of up to 170 euros per tonne for wheat, and 470 euros/tonne for rapeseed), this would amount to almost 46 million euros in revenues for Porumboiu.
The businessman previously announced that he had invested over 23 million euros in crops, i.e. around 500 euros per hectare this year.
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