Mihai Anghel, who manages 25,000 hectares of farming land through Cerealcom Dolj company, is going to expand the exploited area and farm more than 40,000 hectares in three years.
"We plan to double the area, to sign lease contracts and combine land plots because there are many dispersed plots in the area that nobody works on," Mihai Anghel, who last year registered 94m-euro turnover and income in excess of 6m euros, told ZF.
Anghel had previously stated owners received 150 RON or 600 kg of wheat per hectare of leased land.
The expansion strategy would propel Anghel to the same level as Adrian Porumboiu, who manages 40,000 hectares and with whom he would compete for the third position in the ranking of Romanian companies with the largest farmed areas.
The first two positions are held by Culita Tarata, with 58,000 hectares of agricultural land in Insula Mare a Brailei, and Ioan Niculae, farming over 50,000 hectares through Interagro.
In recent years, Romanian owners have added hundreds or thousands of hectares to their portfolios, but few have risked buying land, most of them preferring to work in a lease system.
Mihai Anghel has recently applied for a warehousing licence in the "First Silo" programme, with his company holding a 350,000-tonne storage capacity. After warehouses are checked, to the extent they meet operating, technical and financial conditions imposed by authorities, the company will pay a 100 RON tax to get the warehousing licence valid for a period of 5 years.
Owners that will store their grain in Anghel’s silos will pay 2 euros per tonne each month as a warehousing tax, meaning Cerealcom Dolj is likely to get 8.4m euros in one year should warehouses work at full capacity. The spaces are however also used for the company’s own production and the crop that Anghel buys from domestic farmers.
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