Turnover and agricultural production reach historic levels in 2022

In an economic landscape marked by significant change, Romania's agriculture is shining with remarkable growth in turnover and production, according to the latest annual survey by KeysFin. Turnover of agricultural companies recorded the second-highest nominal annual growth in the last 10 years, reaching an all-time high of 68 billion lei in 2022.

KeysFin analysts provide encouraging estimates for 2023, with forecasts of exceeding the 80 billion lei turnover threshold. This optimistic development is fuelled by the persistence of inflationary pressures and the estimated 24% increase in annual cereal production, which ranks as the third-largest annual increase among EU member states, reports Agerpres.

Diana Florescu, KeysFin economic analyst, stresses the importance of prioritizing investments in infrastructure and modernization of the agricultural sector. "Romania should follow Poland's example and invest in processing in order to become a net exporter of high value-added agricultural products," she says, highlighting a strategic direction aimed at ensuring a surplus in international trade in agri-food products.

Regarding the largest agricultural companies, the National Forestry Regia Romsilva took the top position in 2022, with the highest nominal annual growth in the top 20. In the next places are Promat Comimpex SRL and Agro-Chirnogi SA, marking a diversity in the performance of companies in the agricultural sector.

Financial results at the company level show that of the 26,500 that reported their data in 2022, about 63% made a profit, while 26.3% made a loss. Net profit increased by 13% compared to 2021, reaching a record level of over 9.2 billion lei in 2022.

In terms of cereal production within Europe, Romania maintains its position, remaining in 4th place in wheat production and occupying the first place in the area cultivated with maize. At the same time, the country remains an important player in international agricultural trade, with a 30% increase compared to 2021 and an agricultural trade surplus in 2022, despite previous pandemic challenges.

Romanian agriculture seems to be shaping a promising future, and the decision to invest in processing and modernization indicates a strategic approach aimed at strengthening the country's position on the European and global agricultural map.