Bulgaria: Other Cereals Market 2024

Other Cereals Market Size in Bulgaria

In 2021, the Bulgarian other cereals market increased by 1% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.5% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Other Cereals Production in Bulgaria

In value terms, other cereals production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 494%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

In 2021, the average other cereals yield in Bulgaria dropped to X tons per ha, waning by -5.4% against 2020 figures. The yield figure increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the yield increased by 19%. The other cereals yield peaked at X tons per ha in 2020, and then contracted 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 2021, the harvested area of other cerealses in Bulgaria reached X ha, rising by 5.2% against 2020 figures. The harvested area increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the harvested area increased by 33%. The other cereals harvested area peaked at X ha in 2014; however, from 2015 to 2021, the harvested area stood at a somewhat lower figure.

Other Cereals Exports

Exports from Bulgaria

In 2021, approx. X tons of other cerealses were exported from Bulgaria; picking up by 120% against the previous year's figure. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 178%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, other cereals exports skyrocketed to $X in 2021. In general, exports recorded a significant increase. The growth pace was the most rapid in 2013 when exports increased by 496% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Greece (X tons) was the main destination for other cereals exports from Bulgaria, with a 93% share of total exports. It was followed by Hungary (X tons), with a 1.7% share of total exports. Romania (X tons) ranked third in terms of total exports with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece stood at +24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-11.1% per year) and Romania (-0.3% per year).

In value terms, Greece ($X) remains the key foreign market for other cereals exports from Bulgaria, comprising 63% of total exports. The second position in the ranking was held by Romania ($X), with an 8.3% share of total exports. It was followed by Hungary, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece totaled +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+4.4% per year) and Hungary (+1.9% per year).

Export Prices by Country

In 2021, the average other cereals export price amounted to $X per ton, falling by -35.5% against the previous year. Over the period under review, the export price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 183%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Other Cereals Imports

Imports into Bulgaria

In 2021, the amount of other cerealses imported into Bulgaria surged to X tons, rising by 35% against the previous year's figure. Overall, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 188%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, other cereals imports stood at $X in 2021. In general, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2013 when imports increased by 121%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Peru (X tons), Greece (X tons) and Austria (X tons) were the main suppliers of other cereals imports to Bulgaria, together accounting for 82% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +65.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) constituted the largest supplier of other cereals to Bulgaria, comprising 57% of total imports. The second position in the ranking was held by Greece ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from Peru amounted to +29.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+40.3% per year) and the Netherlands (+5.6% per year).

Import Prices by Country

The average other cereals import price stood at $X per ton in 2021, falling by -25.8% against the previous year. Overall, the import price, however, showed a prominent expansion. The growth pace was the most rapid in 2017 an increase of 140% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :