Romania increases wheat and barley exports amid rising prices

Over the week (March 14-21) Romanian milling wheat price continued to go up, moving towards the seasonal maximum. Average price gained USD 2/mt over the week to USD 255/mt FOB Constanta (+USD 47/mt y/y).

The price followed mainly global tendencies and some improvement in export demand. Algerian OAIC reportedly purchased large amount of wheat (450 K mt) and biggest part should be supplied by the Black Sea countries, including Romania.

Average price of Romanian barley gained USD 5/mt over the week to USD 238/mt FOB Constanta (+USD 55/mt y/y), this is seasonal maximum.

The price is supported by high demand of traditional Romanian buyer – Jordan. On March 19,  Jordan opened a tender for 120 K mt of feed barley, buying only 60 K mt of barley from Olam company with delivery from August 1 to 15. Ameropa, Al Dahra and Agrochirnogi, which are also regular suppliers of Romanian barley, were taking part in the tender.

On March 26 Jordan will open next tender for 120 K mt with delivery dates suggesting supply from 2025 barley harvest.

According to official data, in July-January 2024/25 Romanian barley exports were 1.8 M mt, up 7% y/y. This figure is absolute record for this time period and sharply up from the 5-year average (1.3 M mt) for Romania. Thus, second season in a row Romania may end up with low stocks of barley, although domestic demand for barley is high due to lower 2024 corn quality .

The companies are making barley forward contracts expecting higher 2025 winter barley harvest in  Romania.