Starting in H2 2010, the Interagro group will have its own gas-based plants for energy cogeneration with a total installed power of around 110 MW. Ioan Niculae, the chairman of Interagro, said: „The value of the investment in these plants exceeds 55 million Euros. We have begun installing such plants in Zimnicea, Turnu Măgurele and […]
About 35-40 percent of the internal vegetable consumption is ensured by domestic production, with the remainder being imported, according to data provided by the Ministry of Agriculture. Local vegetable production increased in terms of a few basic products, such as tomatoes, up some eight percent, to 144,516 tons, cucumbers (42 percent), and peppers (37 percent), […]
The state must reimburse value added tax (VAT) worth some €100 million to major grain traders, on a market where tax evasion is as much as 70 percent. International companies, such as Cargill, Glencore, Alfred C. Toepfer International, and Bunge, or regional ones, including Serbia-based Ameropa Ispoint, could be on this list. Traders say that […]
Deputy Prime Minister Dan Nica yesterday announced that Romania”s current option for the European Commission is the portfolio of Agriculture. According to Agerpres, Dan Nica said: „The decision was to mandate the Minister of Foreign Affairs to go ahead and identify how we could gain a major position in the European Commission. Romania is looking […]
After a 30% surge in sales in the first half, one of the most dynamic performances in the food industry, dairy producer Albalact believes that the 40% target set in the 2009 budget will not be attained because of delays in the investment schedule at the Raraul factory in Campulung Moldovenesc. „Although we had planned […]
For lack of Romanian legislation for holdings, the owners of the Cris-Tim cold meats producer have resorted to a method which increasingly more Romanian businesspeople are adopting lately, in an attempt to simplify relations between their own enterprises. Cris-Tim has founded a company in Cyprus, Rangeglow Limited, that has taken over more than 99 percent […]
Agricultural producers said that the government should set aside over €200 mln, about one tenth of the Ministry of Agriculture’s budget for 2009, to cover damages for calamities caused by the drought this year, considering that the phenomenon affected more than one million hectares of land. The representatives of farmers said they will meet officials […]
Frigocarne Iaşi (symbol:FRGC, on the Rasdaq tier of the Bucharest Stock Exchange) posted a gross profit of 54,044 lei, compared to the loss of 56,230 lei at the end of H1 2008. The profit does not however stem from an increase in the company”s turnover, which dropped from 38,765 lei in H1 2008, to just […]
In a year of crisis, when consumer budgets are low, and inexpensive products are gaining ground, major players in the food sector have turned to aggressive, or even desperate promotions to meet their sales targets, raise market shares, and some, merely to survive.
The management of Tnuva Romania, one of the main players on the domestic fresh dairy market, with a share of some 11 percent, indicated that they are carefully analyzing market trends, currently in decline. They are prepared to implement a program to increase competitiveness on the market and a reorganization of their activities in terms […]
