Bulgaria: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Bulgaria

The Bulgarian fish meals and pellet market rose slightly to $X in 2021, picking up by 3.4% against the previous year. Overall, consumption, however, continues to indicate temperate growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Production of Flours, Meals And Pellets Of Fish in Bulgaria

In value terms, fish meals and pellet production totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 0.6% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports from Bulgaria

In 2021, overseas shipments of flours, meals and pellets of fish increased by 16% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 220% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, fish meals and pellet exports soared to $X in 2021. In general, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for fish meals and pellet exports from Bulgaria, with a 72% share of total exports. Moreover, fish meals and pellet exports to the United States exceeded the volume sent to the second major destination, Romania (X tons), sixfold. Switzerland (X kg) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+21.4% per year) and Switzerland (+23.1% per year).

In value terms, the United States ($X) remains the key foreign market for flours, meals and pellets of fish exports from Bulgaria, comprising 87% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 12% share of total exports. It was followed by Romania, with a 0.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+9.4% per year) and Romania (+19.4% per year).

Export Prices by Country

The average fish meals and pellet export price stood at $X per ton in 2021, growing by 69% against the previous year. Overall, the export price, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 121% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Belgium ($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 Romania (-1.7%), while the prices for the other major destinations experienced a decline.

Imports of Flours, Meals And Pellets Of Fish

Imports into Bulgaria

In 2021, after three years of growth, there was decline in overseas purchases of flours, meals and pellets of fish, when their volume decreased by -1.6% to X tons. Over the period under review, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 2,627% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, fish meals and pellet imports surged to $X in 2021. Overall, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 1,686% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Romania (X tons) was the main fish meals and pellet supplier to Bulgaria, with a 98% share of total imports. It was followed by Germany (X tons), with a 1.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Romania amounted to +117.7%.

In value terms, Romania ($X) constituted the largest supplier of flours, meals and pellets of fish to Bulgaria, comprising 79% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Romania amounted to +103.7%.

Import Prices by Country

In 2021, the average fish meals and pellet import price amounted to $X per ton, growing by 35% against the previous year. Overall, the import price posted slight growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 86% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Romania stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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