This paper focuses on Romanian agricultural policy and trade with emphasis on cereals and oilseeds, and investigates the changes and impact of agricultural trade policies. It analyses the impact of price changes on agricultural protection, agricultural producers, and production incentives during the transition period, using conventional methodology. The study finds that the low efficiency of the market and the poor organisation of marketing and distribution channels, as well as the slow implementation of the reform, have allowed State- owned enterprises to maintain their monopolistic and monopsonistic power. The results also show that agricultural policies lead to a large negative protection (implicit taxation) of all the products examined. Finally, the paper indicates that the changes have brought confusion and uncertainty and asks for more transparency in agricultural policy-making.