Products worth 34 million leva (about $19 million) are currently stored in warehouses in the Bulgarian town of Silistra. This was pointed out by the Regional Union of Agricultural Cooperatives on February 16, reports the Bulgarian National Radio.
The reason why the warehouses are overflowing with goods is low purchase prices, a consequence of the uncontrolled importation of Ukrainian grain, commented the president of the regional union of agricultural cooperatives, Boyan Dimov:
“The prices of medicines and fertilizers that we can use in the EU are high, and our cost in Bulgaria is much higher than the products we import from Ukraine. The barns are full and a new harvest of wheat and rapeseed is approaching. We will have to sell for next to nothing to secure a resource.”
The president of the union of cooperatives said that those who were able to sell at good prices, which were in September, sold. Those who waited in the hope of selling at better prices are now being forced to stop selling because prices are falling.
Many will take loans.
“They will pawn their products because their financial resource is currently in stock,” Boyan Dimov said.
The possibility of bankruptcy is also not ruled out.
Source: Rossa Primavera
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