Bunge To Export 15-20,000 Tonnes of Vegetable Oil to Bulgaria

Bunge Romania, the leader on the Romanian vegetable oil market will start to export approximately 15-20,000 tonnes of vegetable oil to the Bulgarian market in September this year, that is almost 8% of the total oil production of Romania, Ziarul Financiar reported.

At an average shelf price of 5.8 RON, this means Bunge will get approximately 116 million RON (32 million euros) from the production allocated to Bulgaria, according to ZF estimates. Taking into account the average ex works price (VAT not included), the value of sales stands at about 15 million euros.

"The factory in Buzau has a high enough capacity to cover both the domestic needs of vegetable oil of Bunge and the needs of Bulgaria," Michael Whitney, general manager of Bunge Romania said. He did not reveal, however, the production capacity of the facility Bunge has in Buzau.

Romania's vegetable oil market is put at approximately 250,000 tonnes a year, which means that almost 8% of the domestic oil output will go to Bulgaria.