Corn brings 1bn euros into farmers' pockets

Corn production is estimated at seven million tonnes this year, double last year’s level, which means that at an estimated selling price of 0.7 RON/kilo (0.19 euros/kilo), farmers could see almost 1.33 billion euros going into their pockets. The previous announcement from the Ministry of Agriculture, according to which corn production would reach 10 million tonnes led to a price decline, to 0.35 RON/kilo (0.09 euros/kilo), but farmers expect it to climb to the value it was sold at last year. InterAgro, one of the largest farming companies in Romania, which operates 50,000 hectares of land, obtained around 10 tonnes of corn per hectare, from a 15,000-hectare area dedicated to this crop. Therefore, at a price of 190 euros per tonne, this year’s corn production could fetch the group 28.6 million euros.