Mihai Anghel: 2009 will be a hard year for agriculture

Mihai Anghel, owner of Cerealcom Dolj, one of Romania’s five-largest agricultural land owners, estimates a 20 percent increase in its 2008 business, up to €120 million, due to this year’s rich grain production. However, Anghel is reluctant to make forecasts for 2009, due to the financial crisis.
“The 20 percent rise comes from a superior valuation of the 2007 production and the normal production obtained in 2008, following a good agricultural year,” Anghel told Business Standard, adding that prices of agricultural products have dropped.

Cerealcom Dolj’s owner said that 2009 will be a very difficult year, due to the global financial crisis. “Investments will plunge once access to financing becomes more difficult and expensive,” said Anghel.

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