Bulgaria: Fresh Pork Carcase Market 2024

Fresh Pork Carcase Market Size in Bulgaria

In 2022, the Bulgarian fresh pork carcase market decreased by -9.2% to $X, falling for the second consecutive year after five years of growth. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Fresh Pork Carcase Production in Bulgaria

In value terms, fresh pork carcase production rose sharply to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +11.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 21% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fresh Pork Carcase Exports

Exports from Bulgaria

In 2022, overseas shipments of fresh or chilled carcases of pig meat increased by 102% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 880% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, fresh pork carcase exports soared to $X in 2022. Overall, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 772%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Greece (X tons) was the main destination for fresh pork carcase exports from Bulgaria, with a 75% share of total exports. Moreover, fresh pork carcase exports to Greece exceeded the volume sent to the second major destination, Cyprus (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+16.6% per year) and Romania (+32.7% per year).

In value terms, Greece ($X) remains the key foreign market for fresh or chilled carcases of pig meat exports from Bulgaria, comprising 76% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Greece amounted to +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+21.7% per year) and Romania (+30.1% per year).

Export Prices by Country

In 2022, the average fresh pork carcase export price amounted to $X per ton, with an increase of 23% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 24% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Cyprus ($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 Cyprus (+4.4%), while the prices for the other major destinations experienced a decline.

Fresh Pork Carcase Imports

Imports into Bulgaria

In 2022, supplies from abroad of fresh or chilled carcases of pig meat decreased by -33.3% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 310% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, fresh pork carcase imports shrank markedly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 242% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of fresh pork carcase to Bulgaria, accounting for a 58% share of total imports. Moreover, fresh pork carcase imports from Belgium exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+358.3% per year) and Germany (-0.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of fresh or chilled carcases of pig meat to Bulgaria, comprising 61% of total imports. The second position in the ranking was taken by Denmark ($X), with a 13% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+325.8% per year) and Germany (-2.6% per year).

Import Prices by Country

In 2022, the average fresh pork carcase import price amounted to $X per ton, rising by 18% against the previous year. Overall, the import price, however, showed a mild descent. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Hungary ($X per ton) and Belgium ($X per ton), while the price for Poland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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