Agriculture: Isarescu: No negative impact for wheat, substantial decreases for corn and potatoes

The wheat yield does not register drops this year, while corn, potatoes and sunflower record substantial decreases, says BNR (Romanian central bank) governor Mugur Isarescu. He added there will not be a major impact on foodstuff prices in conditions of macrostability.

“There are no drops for wheat, but there are substantial decreases for sunflower, corn and potatoes. We do not see an impact on Romania based on these data. There are large stocks of cereals in the world, so the impact of foodstuff prices will not be a major one, although drought will affect crops,”said Isarescu on Thursday at the conference presenting the quarterly Report on inflation approved on Tuesday by the BNR Administration Board.

According to estimates made based on EC data and the July report made by FAO, corn yields will drop by 30%, sunflower by 20% and potato by 15% compared to 2014.

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