Bulgaria: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Bulgaria

In 2022, the Bulgarian monoammonium phosphate market increased by 19% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. Monoammonium phosphate consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Monoammonium Phosphate Production in Bulgaria

In value terms, monoammonium phosphate production declined to $X in 2022 estimated in export price. In general, production, however, recorded a slight decrease. The growth pace was the most rapid in 2016 with an increase of 64%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports from Bulgaria

After two years of growth, overseas shipments of monoammonium phosphate (MAP) decreased by -53.6% to X tons in 2022. Overall, exports recorded a pronounced setback. The pace of growth was the most pronounced in 2016 with an increase of 365%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, monoammonium phosphate exports dropped modestly to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 241% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X tons) was the main destination for monoammonium phosphate exports from Bulgaria, with a 59% share of total exports. Moreover, monoammonium phosphate exports to Romania exceeded the volume sent to the second major destination, Croatia (X tons), threefold. Greece (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-9.7% per year) and Greece (-10.7% per year).

In value terms, Romania ($X) emerged as the key foreign market for monoammonium phosphate (MAP) exports from Bulgaria, comprising 63% of total exports. The second position in the ranking was taken by Croatia ($X), with an 18% share of total exports. It was followed by Hungary, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-5.7% per year) and Hungary (-5.9% per year).

Export Prices by Country

The average monoammonium phosphate export price stood at $X per ton in 2022, with an increase of 109% against the previous year. Overall, the export price continues to indicate a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Bulgaria

Monoammonium phosphate imports into Bulgaria shrank remarkably to X tons in 2022, which is down by -15.7% against the year before. In general, imports recorded a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 93% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports surged to $X in 2022. Over the period under review, imports showed a perceptible reduction. The pace of growth was the most pronounced in 2018 with an increase of 73%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Morocco (X tons) constituted the largest supplier of monoammonium phosphate to Bulgaria, with a 49% share of total imports. Moreover, monoammonium phosphate imports from Morocco exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Romania (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Morocco amounted to -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-15.9% per year) and Romania (+33.4% per year).

In value terms, Morocco ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Bulgaria, comprising 53% of total imports. The second position in the ranking was held by Russia ($X), with a 19% share of total imports. It was followed by Romania, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Morocco stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-12.4% per year) and Romania (+39.4% per year).

Import Prices by Country

The average monoammonium phosphate import price stood at $X per ton in 2022, rising by 75% against the previous year. Overall, the import price continues to indicate notable growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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