The turnover of Longin, a company owned by the agricultural baron from Olt Longin…

The Longin company, which cultivates one of the largest areas with cereals and oilseeds in Olt county, ended the year 2023 with a turnover of almost 400 million lei, up 25% compared to the previous year, according to ZF calculations made based on data from the Ministry of Finance. Moreover, in an average year for agriculture, like last year, in which the national production is estimated at around 25 million tons of cereals and oilseeds, the company recorded a profit of over 10 million lei, which was up by 22% compared to 2022, public data also show.

Longin is owned by the “baron of agriculture” from Olt County Longin Mircea Drăghicescu, who also owns the largest storage capacity in bases and silos in Argeş County, of 55,000 tons, competing with medium to large Romanian traders, and which allowed him to store his goods at times when prices fluctuated greatly and even fell to the level of 2018. The company with 261 employees cultivates, according to the latest data from ZF, sunflowers, corn, wheat, soybeans , peas and sorghum. Part of the wheat production is transformed into flour, because the company owns a mill, Moara Boianului, in Olt county.

The business has grown rapidly in the last three years, from around 100 million lei in 2020 to almost 400 million lei in 2023, a fourfold increase in three years, according to public data. An explanation could be the fact that the company’s added value increased by processing sunflower seeds to make crude oil.