Romania could see a 40 percent increase in national wheat production by 2020, taking the figure to about 8 million tons, said the agriculture minister, Valeriu Tabara, during a seminar organized by Mediafaxin last week.

He added that half of the potential output could be exported, putting Romania among the largest wheat exporters in the world.

"But this isn't easy. Why shouldn't price formation take place at the Black Sea since we have large productions there?" said Tabara, calling for the setting up of a grain exchange, reported Business Review.

In 2010 Romania's total wheat production was 5.7 million tons. The minister commented that prices were close to cost level. Romania's trade deficit for food products has fallen to EUR 462 million since the beginning of the year, down by about 16 percent against the same period of last year, announced Tabara.