Romania is expected to suffer significant losses in corn and sunflower crops due to severe drought conditions affecting nearly two million hectares.

According to agriculture minister Florin Barbu, farmers will receive compensation between EUR 200 and EUR 250 per hectare for the damaged crops. The total estimated funds for drought compensation range from EUR 500 million to EUR 600 million, according to Agerpres.

Additionally, the government plans to request financial support from the European Commission to aid affected agricultural sectors. Efforts are also being made to alleviate financial strain on agricultural companies, including potential measures to delay loan repayments.

Meanwhile, Romania's wheat crop for this year is estimated at 7 million tons, with only minor losses because of the drought.

Romania is Europe's second-biggest grain exporter after France. Its grain exports have surged by over 30% in the 2023/2024 commercial year.

Romanian farmers and traders exported more than 10.6 million tons of cereals, up from 8.1 million tons the previous year, Economica.net reported.

The country leads in corn exports, with 2.7 million tons out of the EU's 3.9 million tons. Romania is also the second-largest exporter of common wheat, with exports rising 36.9% to 6.3 million tons.

andrei@romania-insider.com

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