Agrieuro Corp (OTCBB:EURI) was a massive mover in Friday’s trading session. The stock surged by close to 10% on the back of 1.2 times the average daily volumes. It is important to indicate that the stock has been in an uptrend over the last couple of weeks ever since hitting an intraday low of $0.29, which is being seen as a huge positive. The stock was able to break above its 50-day moving average on the back of the price volume action seen in Friday’s trading session. Traders believe the stock could head to levels of $0.80 in the near term.
Agrieuro Corp (OTCBB:EURI) announced in a recent statement that it had sold its entire reed harvest after witnessing a huge demand in international markets. As per the reports, it had produced enough reeds to fulfill the demand.
Insights of The Announcement
With this decision, Agrieuro has finished the entire reed harvest for 2015. Now, there’s no order backlog is pending, something the management team’s been waiting for a long time. Company’s senior officials, including Radu Cosmin Monda, CEO, Agrieuro, are delighted to make this announcement. While talking to reporters, Monda said that the management expected the demand to jump high in this quarter, but had never expected such market response from international customers.
Fish Farm Project On Danube Delta
Agrieuro has also announced new plans for its water canals and tanks. To enhance the production and get an edge over competitors, Agrieuro plans to use its water tanks for farming Pike, Carp, Crucian, and Bream. With this innovative step, Agrieuro expects to produce about half a kilogram of fish per cubic meter utilizing the 3.3 million cubic meters of water.
If the total capacity is utilized effectively, Agrieuro can take up the production to around 1,600 tons a year and sell it for 2.5 Euros per kg to generate a whopping 4 million Euros yearly. The one thing that’s noticeable here is the production capacity of this property. The numbers mentioned above takes into account the proceeds only from fish business; however, there are other non-fish species, like geese, clams, frogs, crabs and ducks, which can significantly enhance the revenues.
As part of this new initiative, Agrieuro will use the twenty-five-kilometer long dam, canals, and tanks, so that the production can be maximized in the coming months. The senior management team is confident that it will find new ways to monetize this site and others like it in the future.