Bulgaria: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Bulgaria

For the fifth year in a row, the Bulgarian fresh beef carcase market recorded growth in sales value, which increased by 24% to $X in 2022. Overall, consumption enjoyed a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Fresh Beef Carcase Production in Bulgaria

In value terms, fresh beef carcase production surged to $X in 2022 estimated in export price. Overall, production showed prominent growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Fresh Beef Carcase Exports

Exports from Bulgaria

In 2022, shipments abroad of fresh or chilled carcases of beef and veal increased by 70% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 782% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, fresh beef carcase exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 753% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Croatia (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of fresh beef carcase exports from Bulgaria, with a combined 70% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +550.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Croatia ($X), Germany ($X) and Romania ($X) appeared to be the largest markets for fresh beef carcase exported from Bulgaria worldwide, together accounting for 69% of total exports.

Among the main countries of destination, Croatia, with a CAGR of +671.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fresh beef carcase export price stood at $X per ton in 2022, falling by -9.9% against the previous year. Overall, the export price, however, saw slight growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 93%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to North Macedonia ($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 Romania (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Beef Carcase Imports

Imports into Bulgaria

In 2022, purchases abroad of fresh or chilled carcases of beef and veal was finally on the rise to reach X tons after two years of decline. In general, imports posted noticeable growth. The most prominent rate of growth was recorded in 2014 when imports increased by 1,522% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, fresh beef carcase imports soared to $X in 2022. Over the period under review, imports showed a temperate expansion. The most prominent rate of growth was recorded in 2014 with an increase of 668%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest fresh beef carcase supplier to Bulgaria, accounting for a 46% share of total imports. Moreover, fresh beef carcase imports from Italy exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+3.1% per year) and Germany (-3.4% per year).

In value terms, Italy ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to Bulgaria, comprising 38% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 18% share of total imports. It was followed by Romania, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.8% per year) and Romania (+10.2% per year).

Import Prices by Country

In 2022, the average fresh beef carcase import price amounted to $X per ton, picking up by 26% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh beef carcase import price increased by +65.1% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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