Agricola Bacau Eyes 9% Hike In 2011 Sales, To RON443M

04.21.2011 By Andrei Circhelan

Romanian group Agricola Bacau on Thursday said it expects sales to rise 9% on the year in 2011, to more than 443 million lei (some EUR108 million), since poultry meat price is set to rise 10% and consumption should increase.

Romanian group Agricola Bacau on Thursday said it expects sales to rise 9% on the year in 2011, to more than 443 million lei (some EUR108 million), since poultry meat price is set to rise 10% and consumption should increase.

Sales are calculated on the results of Agricola International, Salbac, Europrod, Comcereal, Aicbac, Suinprod and Avicola Lumina - Constanta, which are members of the agricultural group.

In 2010, the group posted sales of RON408 million, with RON280 million coming from Agricola International Bacau, which supplies poultry meat.

"The year 2011 started as we expected, with the average price of poultry meat increasing slightly, after the decrease registered last year," Agricola Bacau president Grigore Horoi told MEDIAFAX.

He added that one of the major problems currently faced by the market is the increased price of cereals.

"Even though expenditure on main resources (cereals) rose by an average 120% in 2011 compared to 2009, the price of poultry meat increased only by 11% compared to 2010, and it is still some 3% lower than the 2009 price," Horoi said.

The group plans to invest some EUR7 million this year, mainly in poultry meat production upgrades (EUR3.2 million) and poultry farms (EUR2.5 million).

Agricola Bacau currently holds a network of 52 stores and it plans to open another 30 units this year.

The group has a total 2,500 employees and it does not plan layoffs or employment in 2011. (EUR1=RON4.0906)