Bulgaria: Durum Wheat Market 2024

Durum Wheat Market Size in Bulgaria

The Bulgarian durum wheat market shrank to $X in 2022, which is down by -7.6% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2021, and then shrank in the following year.

Durum Wheat Production in Bulgaria

In value terms, durum wheat production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 20% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2022.

In 2022, the average durum wheat yield in Bulgaria declined rapidly to X tons per ha, waning by -16.8% compared with the year before. The yield figure increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the yield increased by 51% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then fell remarkably 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, the total area harvested in terms of durum wheat production in Bulgaria reduced slightly to X ha, leveling off at 2021. In general, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 11%. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the durum wheat harvested area failed to regain momentum.

Durum Wheat Exports

Exports from Bulgaria

In 2022, the amount of durum wheat exported from Bulgaria skyrocketed to X tons, picking up by 43% on the year before. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 382%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, durum wheat exports soared to $X in 2022. Over the period under review, exports, however, faced a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 457% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Greece (X tons) and Italy (X tons) were the main destinations of durum wheat exports from Bulgaria, together accounting for 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of -7.9%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for durum wheat exported from Bulgaria were Spain ($X), Greece ($X) and Italy ($X), together accounting for 100% of total exports.

Greece, with a CAGR of -3.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average durum wheat export price stood at $X per ton in 2022, growing by 22% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, durum wheat export price increased by +74.0% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 23%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Durum Wheat Imports

Imports into Bulgaria

Durum wheat imports into Bulgaria soared to X tons in 2022, rising by 368% against the year before. Overall, imports, however, recorded a abrupt slump. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, durum wheat imports soared to $X in 2022. In general, imports, however, continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 80% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ukraine (X tons) was the main supplier of durum wheat to Bulgaria, accounting for a 90% share of total imports. Moreover, durum wheat imports from Ukraine exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine totaled +43.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.9% per year) and Spain (0.0% per year).

In value terms, Ukraine ($X) constituted the largest supplier of durum wheat to Bulgaria, comprising 74% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.1% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine totaled +63.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.7% per year) and Italy (-11.1% per year).

Import Prices by Country

In 2022, the average durum wheat import price amounted to $X per ton, dropping by -67.9% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 106%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined remarkably in the following year.

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 Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+86.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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