1. Analysis for European Agriculture Commision
Romanian Cereals Exchange DECEMBER 2015 REPORT Romanian Agriculture Analysis report regarding trading of cereals
Analysis for European Agriculture Commision
by Bogdan Iliescu – Head Of Agriculture Division - Romanian Commodities Exchange SA
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

2. The structure of Romanian Farms
The average of a Romanian farm surface is 3,4 hectares
1,2% (>100 de ha) from the total number of farmers has 52% from whole Romanian total surface
Dimensions
No. of farmings
% from total number
Total Romanian Surface hectars
% Total from total surface
Production Estimated in tones
% from total production estimated
1-19 ha
98.8%
47.92%
30%
10-50 ha
56.989
12% ha
7.992 6% ha
9.735
1,2%
52.8%
22% ha
1.697 ha
639 9% ha
184 5%
>5000 35 4%
Total
100 %
1hectar SQM
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

3. The EU Agricultural Cooperatives Report 2015
Countries
No. Of Agricultural Cooperatives
Cooperative turnover yearly millions euro
Franta
2.400
84.350
Germania
67.502
Italia
5.834
34.652
Olanda
215
32.000
Spania
3.844
25.696
Danemarca 28
25.009
Polonia
136
15.311
Austria
217
8.457
Suedia 30
7.438 UK
200
6.207
Ungaria
1.116
1.058
Lituania
402
0.714
Grecia
550
0.711
Romania 68
0.204
Bulgaria
900
0.102 *
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange 3

4. Agricultural Trading Tools Mandatory for a Cereals Producer
A Farmer to trade his productions should use the following tools:
Warehouse Certificate (credit stock ) - it doesn’t exist
Derivative Commodities Exchange instruments (futures, options ..) -it doesn’t exist
Spot transactions Platforms from Commodities exchange – it exists – low volumes
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

5. How and when is trading a farmer it’s own crop productions in Romania
Whole production is selling based on spot market through bilateral contracts
They are not use the financial derivative instruments (instead multinationals Glencore, Bunge Cargill..)
They are not using warehouse certificate (credit based on stock)
Type of farmers
Hectare s
%of Quantity sale at the harvest
% of selling during theyear and for own
Small farmers
1-50 ha
60%
40%
Medium Farmers ha
70%
30%
Big farmers
>500 ha
50%
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

6. Romanian Cereals crops productions 2015 vs 2014
Productie milioane tone
2014
2015
Scadere 2015 fata de 2014
Grau
7.3
7.5
103%
Porumb 11
68%
Orz +orzoaica
1.74
1.51
87%
Floarea Soarelui
2.1
1.53
73%
Rapita
1.04
0.95
91%
Sfecla de zahar
0.6
0.55
92%
soia
0.2
0.18
90%
Total
23.98
19.72
82%
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

7. Romanian Cereals Licensed Warehouse Capacities
Zone
No. of warehouses
Quantity Tone
% from all no.
MUNTENIA
1,654
9,556,000
51.65%
OLTENIA
246
1,282,000
6.93%
BANAT
919
4,531,000
24.49%
MOLDOVA
351
980,300
5.30%
ARDEAL
2,150,700
11.63%
TOTAL
3,170
18,500,000
100.00%
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

8. Black Sea wheat productions in millions of tones
Black Sea Region Countries Wheat Productions VS World
-14% from World Production
Countries
Black Sea wheat productions in millions of tones
RUSIA 51
UKRAINA 22
KAZAHSTAN 16
ROMANIA
7.7
TOTAL Total Black sea Production
96.7
% Wheat Black Sea Vs World Production
14%
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange 8

9. 30% from World Wheat trading is in Black sea Region Countries
It calls unofficial ”Black Sea Commodities Exchange” –No one Exploit it
World Wheat trading
Wheat Export
%export from world
USA 25
17%
Canada 21
14%
Rusia
19.5
13%
Australia 19
Franta
18.6
12%
Ucraina 9 6%
Germania
8.7
Argentina
6.5 4%
Kazahstan 6
Romania
4.7 3%
altii 12 8%
Total
150
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

10. 5 millions tone (3% from world export)
Romanian wheat export 2014
5 millions tone (3% from world export)
Romanian Wheat export Countries
1.Egipt 37%
2.Coreea De Sud
3.Libia
4.Tunisia
5.Siria
6.Italia
7.Spania
8.Iordania
9.Congo
10.Grecia
%Romanian WheatProduction Vs world Wheat Production
1.10%
% Romanian Wheat production VS EU wheat production
5.38%
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

11. Romanian wheat production 2014 VS Internal Consumption and Export
Romanian Production
Average Yearly production
Internal Consumption
Export
Wheat
7,500,000
3,500,000
4,000,000
Corn
11,000,000
Sun Flower
2,000,000
1,400,000
600,000
rapeseed
1,000,000
500,000
Barely and Malts
1,500,000
Total
23,000,000
11,690,000
11,310,000
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

12. Romanian Wheat prices SPOT Fob Constanta Black Sea Vs Matif –Euronext
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

13. Romanian Corn prices SPOT FOB Constanta Black Sea Vs Matif –Euronext
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

14. Derivatives Financial instruments:
Romanian Potential for Financial derivatives Instruments and Warehouse Credit Stock
Derivatives Financial instruments:
Cereals : hectares -220 key players- 4 millions tones
(unexploited)
Warehouse Certificate (Credit Stock ) - Guaranteed by Romanian Government
Cereals farmers potential MT
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange

15. For further details have my contacts : https://iliescubogdanconstantin
Bogdan Constantin Iliescu
Head of Agriculture Division
Romanian Commodities Exchange
Buzesti Avenue , sector 3
Bucharest
Phone:
Fax:
Mobile:
Mobile :
Analyze by Bogdan Iliescu - Head Division Cereals Romanian Commodities Exchange