Bulgaria: Grain and Feed Market Update
Bulgarian farmers increased wheat planted area in MY2016/17 by 9% as of December 2015. Winter barley planting had a decline of 2.2%. Growing conditions to date have been favorable with mild winter and sufficient soil moisture. Provided that the weather cooperates later in the season, the country can expect a very good crop and higher average yields. MY2015/16 corn was seriously affected by drought and FAS/Sofia estimate is for a 23% decline in production despite higher area. Early data indicates that farmers plan to reduce their planting for MY2016/17. MY2015/16 grain exports have been depressed due to lower prices, reluctant farmers’ sales, tough Black Sea competition, and sluggish demand. As of early April 2016, the country has exported 2.430 MMT of wheat, 404,000 MT of barley, and 710,000 MT of corn. Accumulated wheat stocks are at record levels and represent a heavy burden for the market.
