site.btaSofia Commodity Exchange Director Does Not Expect Food Crisis in Europe

Speaking on the Bulgarian National Radio on Monday, the Executive Director of the Sofia Commodity Exchange, Vassil Simov, said at the start of the wheat buying campaign in Bulgaria prices of the commodity are stable. The bread-quality grain trades 10% to 15% higher than last year. Simov said that the grain markets in Bulgaria expect enough quantities and steady prices. 

According to Simov, Bulgaria will have an export potential of grain which he said will be three-fold higher than the domestic demand. 

He does not expect shortages of wheat and sunflower seeds. In Simov's words, the predictions for a food crisis in Europe will not materialize. 

Simov said the situation on the grain markets is calm, with downward prices for a third month running. 

The market of sunflower seeds has steadied as well and Simov does not see a new crisis. He warned against excessive stockpiling of cooking oil.