Bulgaria's wheat exports might surge to 1.2 million tonnes by end-June, above earlier estimates for around a million tonnes for the marketing year 2005/06, financial daily Pari reported on Monday.
Deputy Agriculture Minister Svelte Bachvarova told the newspaper that wheat exports would be higher than estimated and will have a positive impact on the domestic market. The Balkan country's wheat exports stood at 1.1 million tonnes in marketing year 2004/05 (July-June).
Pari cited Bachvarova as saying surplus wheat in previous years stood at 400,000-450,000 tonnes, but in 2006 the Black Sea state would keep reserves of only 200,000 tonnes which would help boost the price of domestic wheat in the summer.
She was not available for comment. Wheat traders agreed with the export forecast and said 1.2 million a tonne was a realistic estimate.
"We had a good crop last year and we exported a lot. I believe wheat exports may even go beyond 1.2 million tonnes," a Sofia-based trader at a big international trading company told Reuters.
Floods and pest attacks cut the 2005 wheat harvest to 3.46 million tonnes from 3.96 million a year, but the crop was still well above the 2.0-2.5 million tonnes needed to cover domestic demand.
The ministry has forecast 2006 crop to be around 3.0 million tonnes due to delayed sowings and a cold snap in January.
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