Bulgaria: Cereal Market 2024

Cereal Market Size in Bulgaria

In 2022, the Bulgarian cereal market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2014; afterwards, it flattened through to 2022.

Cereal Production in Bulgaria

In value terms, cereal production declined to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of cereals in Bulgaria contracted to X tons per ha, waning by X% against 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the yield increased by X% against the previous year. As a result, the yield attained the peak level of X tons per ha, and then dropped in the following year. 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 cereals were harvested in Bulgaria; flattening at 2021 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. The cereal harvested area peaked at X ha in 2013; afterwards, it flattened through to 2022.

Cereal Exports

Exports from Bulgaria

In 2022, the amount of cereals exported from Bulgaria reduced notably to X tons, with a decrease of X% against the previous year's figure. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cereal exports fell modestly to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank modestly in the following year.

Exports by Country

Algeria (X tons), Greece (X tons) and Spain (X tons) were the main destinations of cereal exports from Bulgaria, with a combined X% share of total exports. Romania, Tunisia, Egypt, Italy, Indonesia, Bangladesh, Pakistan, China, Israel and Lebanon lagged somewhat behind, together comprising a further X%.

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

In value terms, Algeria ($X), Greece ($X) and Tunisia ($X) were the largest markets for cereal exported from Bulgaria worldwide, together comprising X% of total exports. Spain, Romania, Egypt, Italy, Indonesia, Pakistan, Bangladesh, Israel, China and Lebanon lagged somewhat behind, together accounting for a further X%.

Pakistan, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cereal export price amounted to $X per ton, picking up by X% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal export price increased by X% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Egypt ($X per ton) and Tunisia ($X per ton), while the average price for exports to China ($X per ton) and Spain ($X per ton) were amongst the lowest.

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

Cereal Imports

Imports into Bulgaria

In 2022, the amount of cereals imported into Bulgaria surged to X tons, increasing by X% compared with 2021 figures. Overall, imports saw strong growth. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, cereal imports surged to $X in 2022. Over the period under review, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Romania (X tons), Ukraine (X tons) and Austria (X tons) were the main suppliers of cereal imports to Bulgaria, with a combined X% share of total imports.

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

In value terms, Romania ($X) constituted the largest supplier of cereals to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by Hungary ($X), with a X% share of total imports. It was followed by Ukraine, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Romania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Ukraine (X% per year).

Import Prices by Country

The average cereal import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 Hungary ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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