Construction projects :

We have now received the first major FEADR subsidy of DKK 9.133.000 to our silo buildings in Mizil and Oravita .

The amount is given as 50% support for grain halls, drying device, cleaning device, transport – in and out – silo , electrical installations , foundation and concrete work at the sites , etc. Our projects are still open, which allows us to expand silo capacity in Mizil and Oravita to the planned capabilities, still with approx. 50% support .

Weather and field operations :

Winter in Romania , like in Denmark, be very soft until approx. 14 days ago. There was a bit of snow and frost in December, which quickly disappeared , and this was followed by the first frost and snow again in the east 14 days ago. Mizil were hit very hard with feet snowfall and several meters tall heaps. In Videle was less dramatic , but here too thick snow cover and low temperatures – down to – 20 degrees C at night for a few days. The temperature is again increased, so we expect start part of the field work in Videle in the coming week , starting with fertilizer spreading, but in Mizil it takes a little longer since the snow first has to be melted – even the weather forecast says very high temperatures in Mizil within one week. In Oravita there has been virtually no winter. Just a bit of frost and very little snow. However, we have here in the last week been challenged by a very severe storm, with wind-blown sand etc. which of course have marked rape and wheat , but it is currently being assessed not to such a degree that there is Winterkill. In Oravita is harrowing of greencrops and fertilizer spreading initiated.

Snow in Mizil

After the storm in Oravita

Fertilizer spreading in Oravita (new fertilizer spreader )

Mechanical upgrades :

We have one primary objective: to increasing yields.

With this goal in mind, is acquired additional fertilizer spreading capacity and an additional harrow type : a Horsch Joker 8HD for each farm, which shall be able to work hard crust in the spring and prevent poor seedbed. So additional soil treatment option under these conditions.

The new harrow – an aggressive type that can handle tough crust and corn stubble and – stems.

Crop Prices:

There are very recently sold mill wheat to 1320 DKK/MT net . The price of corn , however, has been the major challenge throughout 2013, when the level on Romanian market has been around 900 DKK/MT, with no signs of improvement and with noticeable anxiety among customers about the price , which is probably attributable toxin problems in the beginning of 2013, which we also got to feel on offered prices, even though we can present positive test results in this area. However, we have very recently seen an increase in the prices offered, and we have now sold quantities of corn at 1000-1080 DKK/MT- net prices .

Kind regards

Richardt Duus, CEO