Bulgaria: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Bulgaria

In 2022, the Bulgarian animal or vegetable fertilisers market increased by X% to $X, rising for the sixth year in a row after two years of decline. In general, consumption recorded a strong expansion. Animal or vegetable fertilisers consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Animal Or Vegetable Fertilisers in Bulgaria

In value terms, animal or vegetable fertilisers production soared to $X in 2022 estimated in export price. Over the period under review, production showed a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Animal or vegetable fertilisers production peaked in 2022 and is likely to continue growth in the immediate term.

Exports of Animal Or Vegetable Fertilisers

Exports from Bulgaria

In 2022, overseas shipments of animal or vegetable fertilisers increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, animal or vegetable fertilisers exports dropped notably to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Vietnam (X tons) was the main destination for animal or vegetable fertilisers exports from Bulgaria, with a X% share of total exports. Moreover, animal or vegetable fertilisers exports to Vietnam exceeded the volume sent to the second major destination, Romania (X tons), fourfold. North Macedonia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and North Macedonia (X% per year).

In value terms, Romania ($X) remains the key foreign market for animal or vegetable fertilisers exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the UK (X% per year).

Export Prices by Country

The average animal or vegetable fertilisers export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Vietnam ($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 the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Animal Or Vegetable Fertilisers

Imports into Bulgaria

In 2022, purchases abroad of animal or vegetable fertilisers increased by X% to X tons, rising for the sixth consecutive year after two years of decline. In general, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, animal or vegetable fertilisers imports skyrocketed to $X in 2022. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of animal or vegetable fertilisers to Bulgaria, with a X% share of total imports. Moreover, animal or vegetable fertilisers imports from Italy exceeded the figures recorded by the second-largest supplier, Greece (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Germany (X% per year).

In value terms, Italy ($X), Austria ($X) and Greece ($X) appeared to be the largest animal or vegetable fertilisers suppliers to Bulgaria, with a combined X% share of total imports. Germany, Poland, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average animal or vegetable fertilisers import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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