Number of insolvencies in Romanian agriculture increases 80% YoY in H1 2026

The number of agricultural companies entering insolvency procedures has reached an unprecedented level in recent years, according to an analysis carried out by insolvency and restructuring consultant CITR based on data provided by the National Trade Register Office.

Insolvencies in agriculture recorded an increase of almost 80%, from 127 cases in H1 2025 to 226 cases in H1 2026. Moreover, by mid-April 2026, the number of insolvencies in agriculture had already reached the level recorded during the entire first half of last year.

Insolvencies exploded particularly among companies with fixed assets exceeding EUR 4 million,  from a single company in H1 2025 to 19 companies in H1 2026. The latter concentrate more than EUR 235 million in fixed assets, equivalent to more than 57% of the total assets that entered insolvency in this segment across the entire economy.

According to CITR, the increase in the number of insolvencies in the agricultural sector over six months reflects an accumulation of structural and cyclical pressures on Romanian farmers. Profit margins have been compressed under the combined effect of volatile grain prices, high production and financing costs, and recurring droughts. As a result, an increasing share of farmers is reorienting toward autumn crops, which are more stable than corn or sunflower. Added to this are the pressure from grain imports from Ukraine and the rising cost of energy and fertilizers amid geopolitical instability.

“If in previous years the vulnerabilities in agriculture were absorbed mainly by small or family farms, in the first half of 2026 we are witnessing an expansion of the crisis toward impactful companies, with extensive networks of suppliers, distributors and financiers. When a large player in agriculture enters payment incapacity, the wave is immediately transmitted throughout the local and regional supply chain,” said Paul-Dieter Cîrlănaru, CEO of CITR.

The CITR analysis carried out on a representative sample of 3,700 agricultural companies, out of a total of 13,700 that filed financial statements and have total assets of at least EUR 1 million, indicated a worrying structural vulnerability. Roughly 40% of the companies are already in the high financial risk zone. 631 companies are in imminent insolvency, and 855 companies are classified as restructurable, urgently needing operational and financial reorganization measures.

Companies at risk that nevertheless have solid turnover and a significant number of employees represent priority cases for early restructuring intervention, which can prevent cascading social and economic effects.

The insolvency situation of the agricultural sector is also illustrated by the evolution of the non-performing loan rate among non-financial companies, which, according to the National Bank of Romania’s Financial Stability Report published in June 2026, rose to 5.6%, while in the micro and small enterprise segment it exceeds 7%.

Loans backed by state guarantees, used extensively in agriculture during 2020–2022, have a non-performing rate of 11.3%, a sign that the emergency support granted at that time did not generate the expected resilience.

Thus, the main centers of large insolvencies are the counties of Bacău and Hunedoara, followed by Vaslui, Bihor and Ialomița, areas dependent on extensive agriculture where large companies with assets exceeding EUR 4 million are in insolvency. Timiș, Bucharest, Arad, Constanța, and Teleorman followed in the ranking of counties by the total number of agricultural companies at risk.

radu@romania-insider.com

(Photo source: Dusan Kostic|Dreamstime.com) ...