Report Update Nov 1, 2024

Bulgaria - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Bulgaria

In 2022, the Bulgarian crude soybean oil market decreased by -33.6% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, recorded a prominent expansion. Over the period under review, the market reached the peak level at $X in 2021, and then contracted remarkably in the following year.

Crude Soybean Oil Production in Bulgaria

In value terms, crude soybean oil production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 187% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Crude Soybean Oil Exports

Exports from Bulgaria

In 2022, approx. X tons of crude soybean oil were exported from Bulgaria; with a decrease of -93% against the year before. Overall, exports saw a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 2,414%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, crude soybean oil exports shrank rapidly to $X in 2022. In general, exports continue to indicate a significant curtailment. The growth pace was the most rapid in 2020 with an increase of 2,540%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Greece (X tons) was the main destination for crude soybean oil exports from Bulgaria, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to -24.7%.

In value terms, Greece ($X) also remains the key foreign market for crude soybean oil exports from Bulgaria.

From 2012 to 2022, the average annual growth rate of value to Greece amounted to -25.0%.

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, reducing by -4.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 65% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Greece.

From 2012 to 2022, the rate of growth in terms of prices for Romania amounted to +6.6% per year.

Crude Soybean Oil Imports

Imports into Bulgaria

In 2022, purchases abroad of crude soybean oil decreased by -46.6% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, posted noticeable growth. The pace of growth was the most pronounced in 2020 when imports increased by 104% against the previous year. Imports peaked at X tons in 2021, and then fell notably in the following year.

In value terms, crude soybean oil imports dropped markedly to $X in 2022. In general, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by 124%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

In 2022, Serbia (X tons) constituted the largest crude soybean oil supplier to Bulgaria, accounting for a 84% share of total imports. Moreover, crude soybean oil imports from Serbia exceeded the figures recorded by the second-largest supplier, Moldova (X tons), more than tenfold. The third position in this ranking was taken by Romania (X tons), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from Serbia stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+13.1% per year) and Romania (-6.0% per year).

In value terms, Serbia ($X) constituted the largest supplier of crude soybean oil to Bulgaria, comprising 86% of total imports. The second position in the ranking was held by Moldova ($X), with a 7.1% share of total imports. It was followed by Romania, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Serbia totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+16.1% per year) and Romania (-5.8% per year).

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, picking up by 29% against the previous year. In general, the import price continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 52%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Serbia ($X per ton) and Moldova ($X per ton), while the price for Romania ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude soybean oil in the world?

The countries with the highest volumes of crude soybean oil consumption in 2020 were China, Brazil and the United States, with a combined 63% share of global consumption. India, Argentina, Mexico and Bangladesh lagged somewhat behind, together comprising a further 16%.

What are the largest producers of crude soybean oil in the world?

The countries with the highest volumes of crude soybean oil production in 2020 were China, Brazil and the United States, together accounting for 64% of global production. Argentina, India and Mexico lagged somewhat behind, together comprising a further 17%.

What are the leading suppliers of crude soybean oil to Bulgaria?

In value terms, Serbia constituted the largest supplier of crude soybean oil to Bulgaria, comprising 70% of total imports. The second position in the ranking was occupied by Turkey, with an 11% share of total imports. It was followed by the United Arab Emirates, with a 9.2% share.

What are the leading importers of crude soybean oil from Bulgaria?

In value terms, the largest markets for crude soybean oil exported from Bulgaria were Austria, Greece and Romania.

What is the average export price for crude soybean oil in Bulgaria?

In 2020, the average crude soybean oil export price amounted to $823 per ton, flattening at the previous year.

What is the average import price for crude soybean oil in Bulgaria?

The average crude soybean oil import price stood at $858 per ton in 2020, rising by 9.8% against the previous year.

This report provides an in-depth analysis of the crude soybean oil market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 237 - Oil of Soybeans

Country coverage:

Bulgaria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bulgaria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023