Preparations underway to open Corabia grain exchange


The grain exchange in Corabia, Olt County, will be commissioned in the next two weeks, with the last preparations for its opening being currently underway, according to spokesman for the Corabia Town Hall Dan Oltean.

He said the Corabia Grain Exchange Ltd., the administrator of the grain exchange, the only such exchange in Romania, was registered with the Companies Registry on August 12, and that the moment of the first trades is nearing in.

Corabia Grain Exchange Administrator Marian Paraschiv told Agerpres on Sunday that after the opening of the exchange, expected to occur by end-August – mid-September, the first trades in commodities could start.

According to the registration certificate, the Corabia Grain Exchange will deal with brokering agricultural raw materials, livestock, textile raw materials and semi-finished goods.

Paraschiv mentioned that the exchange will operate as a terminal of the Romanian Commodity Exchange where various commodities, goods and services will be traded. ‘Trades will cover the entire range of commodities, assets and services, from energy, fuels, grains to goods and services from all the branches of the national economy. We are expecting the first transactions to be conducted before mid-September, under the direct guidance of the commodity ring leaders of the Romanian Commodity Exchange,’ said Paraschiv. He added that the exchange terminal at Corabia is the only grain exchange in Romania after a similar terminal that operated in the city of Braila was decommissioned.

The associates of the Corabia Grain Exchange Ltd. are the Olt County Council, with a 25-per cent capital contribution, the Corabia Local Council, 25 per cent and the Romanian Commodity Exchange, 50 per cent.

The main offices for he exchange are located in a building created under a project implemented by the Olt County Council that received RON 1.6 million in financial grants for a RON 5.8-milion project. The project implementation allowed the creation of an organisational framework for grain trading by the construction of an administrative centre, furnishing the headquarters with specific assets allowing for trade in grain and implementing an information system specific of exchange trading.