Bulgaria: Buckwheat Market 2024

Buckwheat Market Size in Bulgaria

In 2022, the Bulgarian buckwheat market increased by 93% to $X, rising for the third consecutive year after four years of decline. Overall, consumption showed significant growth. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Buckwheat Production in Bulgaria

In value terms, buckwheat production surged to $X in 2022 estimated in export price. Overall, production showed a significant increase. Buckwheat production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average yield of buckwheat in Bulgaria totaled less than X kg per ha, approximately mirroring the previous year's figure. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of buckwheat were harvested in Bulgaria; therefore, remained relatively stable against the year before. In general, the harvested area showed a relatively flat trend pattern.

Buckwheat Exports

Exports from Bulgaria

In 2022, approx. X tons of buckwheat were exported from Bulgaria; jumping by 235% compared with the previous year's figure. Overall, exports saw a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 292% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, buckwheat exports surged to $X in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 286%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X tons), Germany (X tons) and Italy (X tons) were the main destinations of buckwheat exports from Bulgaria, with a combined 88% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +96.9%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for buckwheat exports from Bulgaria, comprising 45% of total exports. The second position in the ranking was taken by Germany ($X), with a 22% share of total exports. It was followed by Italy, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Romania stood at +58.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+81.1% per year) and Italy (0.0% per year).

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2022, growing by 8.2% against the previous year. Overall, the export price saw a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 788% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Italy ($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 Turkey (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Buckwheat Imports

Imports into Bulgaria

In 2022, purchases abroad of buckwheat increased by 147% to X tons, rising for the second consecutive year after three years of decline. In general, imports showed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, buckwheat imports skyrocketed to $X in 2022. Over the period under review, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Poland (X tons) and Austria (X tons) were the main suppliers of buckwheat imports to Bulgaria, together accounting for 62% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +60.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest buckwheat suppliers to Bulgaria were Germany ($X), Poland ($X) and Austria ($X), together comprising 59% of total imports. Russia, Turkey, Lithuania, Latvia and the Netherlands lagged somewhat behind, together accounting for a further 41%.

In terms of the main suppliers, Lithuania, with a CAGR of +95.3%, recorded 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 buckwheat import price amounted to $X per ton, rising by 16% against the previous year. In general, the import price posted a temperate increase. The pace of growth was the most pronounced in 2020 an increase of 56% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+41.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :