FRANKFURT, Nov 24 (Reuters) - Europe’s biggest agricultural trading company Baywa expects grain prices for next year will continue to rise, Chief Executive Klaus Josef Lutz told a German weekly newspaper.
“It will not be a jump in prices but a moderate rise,” he told Welt am Sonntag in a report to be published on Sunday.
He said he expected the company’s financial results would be better next year than in 2012, which was forecast at just above 150 million euros ($194.38 million).
As a result of its acquisition of Dutch grains trader Cefetera, German grain trading company Bohnhorst as well as New Zealand’s fruit trading company Turners & Growers, Baywa expects to improve its operating profit to 250 million euros by 2014.
$1 = 0.7717 euros Reporting By Marilyn Gerlach, editing by William Hardy