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Romania's Holde Agri, Toneli Holding in circular farming deal

Romania's Holde Agri, Toneli Holding in circular farming deal Holde Agri Invest CEO Liviu Zagan Source: Holde Agri Invest

BUCHAREST (Romania), June 22 (SeeNews) - Romanian agribusiness company Holde Agri Invest [BSE:HAI] said on Wednesday that it has signed a partnership agreement with local producer and distributor of eggs Toneli Holding, aiming to ensure circular agriculture that includes both grain production and poultry breeding farms for eggs.

As part of the partnership, Holde Agri Invest will supply grain to Toneli Holding, while the consumer egg producer will supply manure, which Holde will use for farm crops, Holde Agri said in a press release.

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The two companies plan to collaborate in both organic and conventional farming and are looking into the possibility of implementing an exchange programme for compost production.

"The partnership with Toneli Holding reinforces our commitment to sustainable agriculture, and we are confident that together with our dynamic and technologically focused teams, we will contribute to improving the standards in Romanian agriculture," Holde Agri Invest CEO Liviu Zagan said.

According to Holde, this year, Romania will implement EU fertilizer regulation into national law. This regulation will regulate chemical fertilizers more strictly, making it easier for manure-based fertilizers to enter the market.

Toneli Holding carries out its poultry breeding and production activities in 24 farms located in southern Romania. Producing over 400 million eggs annually, the company is present in all the trade channels – modern, traditional, and online trade, HoReCa, export, and industry.

Established in 2018, Holde Agri Invest currently operates a total area of almost 12,000 ha in four areas: Rosiori, Frumusani, Videle and Contesti. The company produces large-scale, non-irrigated organic crops of wheat, maize, rapeseed, sunflower, peas, and barley. A large area of the Roșiori farm, approximately 2,000 ha, is certified organic, and almost all of the harvest is exported to Western Europe.

Holde's shares traded 0.30% higher at 1.6750 lei ($0.36/0.34 euro) as at 0940 CET on Wednesday on the AeRO market, the Bucharest Stock Exchange's alternative trading system designed for listing of early-stage companies, start-ups and small and medium-sized enterprises.

(1 euro = 4.9475 lei)

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