Bulgaria: Crude Groundnut Oil Market 2025

Crude Groundnut Oil Market Size in Bulgaria

The Bulgarian crude groundnut oil market fell significantly to $X in 2022, dropping by -99.2% against the previous year. Over the period under review, consumption saw a significant decrease. The pace of growth appeared the most rapid in 2014 when the market value decreased by -9.3% against the previous year. Crude groundnut oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Groundnut Oil Production in Bulgaria

In value terms, crude groundnut oil production rose notably to $X in 2022 estimated in export price. Overall, production, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 22%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Groundnut Oil Exports

Exports from Bulgaria

In 2022, exports of crude groundnut oil from Bulgaria skyrocketed to X tons, surging by 172% compared with 2021 figures. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 11,064%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, crude groundnut oil exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 9,249% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Italy (X tons) was the main destination for crude groundnut oil exports from Bulgaria, with a 74% share of total exports. Moreover, crude groundnut oil exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), fourfold. Greece (X tons) ranked third in terms of total exports with a 3.1% share.

From 2014 to 2022, the average annual rate of growth in terms of volume to Italy totaled +280.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+48.4% per year) and Greece (-20.6% per year).

In value terms, Italy ($X) remains the key foreign market for crude groundnut oil exports from Bulgaria, comprising 70% of total exports. The second position in the ranking was taken by Romania ($X), with a 22% share of total exports. It was followed by Greece, with a 3.7% share.

From 2014 to 2022, the average annual rate of growth in terms of value to Italy totaled +206.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+60.7% per year) and Greece (-30.5% per year).

Export Prices by Country

The average crude groundnut oil export price stood at $X per ton in 2022, which is down by -14.5% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 an increase of 0.6%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Romania ($X per ton) and Greece ($X per ton), while the average price for exports to Italy ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+8.3%), while the prices for the other major destinations experienced a decline.

Crude Groundnut Oil Imports

Imports into Bulgaria

In 2022, purchases abroad of crude groundnut oil increased by 36% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 168,489% against the previous year. 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, crude groundnut oil imports skyrocketed to $X in 2022. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 80,606% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Greece (X tons) was the main crude groundnut oil supplier to Bulgaria, accounting for a 100% share of total imports. It was followed by Italy (X kg), with a 0.4% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Greece stood at +136.5%.

In value terms, Greece ($X) constituted the largest supplier of crude groundnut oil to Bulgaria, comprising 100% of total imports. The second position in the ranking was held by Italy ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Greece amounted to +143.8%.

Import Prices by Country

In 2022, the average crude groundnut oil import price amounted to $X per ton, shrinking by -6.8% against the previous year. Overall, the import price, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2018 an increase of 29% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Italy stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+3.1%).

Source: IndexBox Platform

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