Bulgaria: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Bulgaria

The Bulgarian diammonium phosphate market reduced markedly to $X in 2022, with a decrease of -32.4% against the previous year. Over the period under review, consumption showed a slight descent. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Diammonium Phosphate Production in Bulgaria

In value terms, diammonium phosphate production totaled $X in 2022 estimated in export price. Overall, production, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Diammonium Phosphate Exports

Exports from Bulgaria

In 2022, shipments abroad of diammonium phosphate decreased by -8.2% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2013 with an increase of 68% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, diammonium phosphate exports soared to $X in 2022. Overall, exports showed a slight shrinkage. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for diammonium phosphate exports from Bulgaria, with a 95% share of total exports. Moreover, diammonium phosphate exports to Romania exceeded the volume sent to the second major destination, Greece (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at -4.6%.

In value terms, Romania ($X) remains the key foreign market for diammonium phosphate exports from Bulgaria, comprising 96% of total exports. The second position in the ranking was held by Greece ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania was relatively modest.

Export Prices by Country

In 2022, the average diammonium phosphate export price amounted to $X per ton, growing by 71% against the previous year. Overall, the export price continues to indicate noticeable growth. The growth pace was the most rapid in 2021 when the average export price increased by 77% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Greece stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+4.7%).

Diammonium Phosphate Imports

Imports into Bulgaria

In 2022, diammonium phosphate imports into Bulgaria contracted remarkably to X tons, reducing by -42.5% on the previous year. In general, imports saw a perceptible downturn. The pace of growth was the most pronounced in 2016 with an increase of 60%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, diammonium phosphate imports declined to $X in 2022. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Morocco (X tons) and Romania (X tons) were the main suppliers of diammonium phosphate imports to Bulgaria, together accounting for 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +20.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X), Morocco ($X) and Romania ($X) were the largest diammonium phosphate suppliers to Bulgaria, together accounting for 100% of total imports.

Morocco, with a CAGR of +30.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diammonium phosphate import price stood at $X per ton in 2022, rising by 59% against the previous year. Overall, the import price enjoyed a buoyant increase. The growth pace was the most rapid in 2021 an increase of 102%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+89.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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