Bulgaria: Asparagus Market 2024

Asparagus Market Size in Bulgaria

In 2022, the Bulgarian asparagus market was finally on the rise to reach $X after eight years of decline. In general, consumption, however, recorded a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Asparagus Production in Bulgaria

In value terms, asparagus production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 208%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

In 2022, the average asparagus yield in Bulgaria surged to X tons per ha, rising by 1,739% against 2021. Overall, the yield posted a significant increase. The asparagus yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of asparagus were harvested in Bulgaria; increasing by 160% against the year before. Over the period under review, the harvested area, however, showed a precipitous decline. The asparagus harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Asparagus Exports

Exports from Bulgaria

In 2022, shipments abroad of asparagus decreased by -16.5% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 565% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, asparagus exports reduced sharply to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 2,308%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Luxembourg (X tons) was the main destination for asparagus exports from Bulgaria, accounting for a 89% share of total exports. Moreover, asparagus exports to Luxembourg exceeded the volume sent to the second major destination, France (X kg), ninefold.

From 2019 to 2022, the average annual rate of growth in terms of volume to Luxembourg was relatively modest.

In value terms, Luxembourg ($X) emerged as the key foreign market for asparagus exports from Bulgaria, comprising 90% of total exports. The second position in the ranking was taken by France ($X), with a 10% share of total exports.

From 2019 to 2022, the average annual rate of growth in terms of value to Luxembourg was relatively modest.

Export Prices by Country

The average asparagus export price stood at $X per ton in 2022, reducing by -32.5% against the previous year. Over the period under review, the export price, however, showed significant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 262%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then contracted notably in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to France stood at $X per ton.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+167.6%).

Asparagus Imports

Imports into Bulgaria

After eight years of growth, supplies from abroad of asparagus decreased by -19.5% to X tons in 2022. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 150%. Over the period under review, imports hit record highs at X tons in 2021, and then fell remarkably in the following year.

In value terms, asparagus imports shrank markedly to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 93% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then fell significantly in the following year.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of asparagus imports to Bulgaria, together comprising 86% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +114.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest asparagus suppliers to Bulgaria were the Netherlands ($X), Spain ($X) and Germany ($X), together comprising 88% of total imports.

Among the main suppliers, Germany, with a CAGR of +112.1%, saw the highest rates of growth with regard to 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 asparagus import price amounted to $X per ton, increasing by 3% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asparagus import price increased by +3.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 70%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($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 Netherlands (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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