Bulgaria: Fresh Pork Cut Market 2024

Fresh Pork Cut Market Size in Bulgaria

After two years of decline, the Bulgarian fresh pork cut market increased by 22% to $X in 2022. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Fresh Pork Cut Production in Bulgaria

In value terms, fresh pork cut production reduced to $X in 2022 estimated in export price. In general, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 41%. Fresh pork cut production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Fresh Pork Cut Exports

Exports from Bulgaria

In 2022, overseas shipments of fresh or chilled hams, shoulders and cuts of pig meat increased by 289% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,242% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, fresh pork cut exports surged to $X in 2022. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 1,032%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for fresh pork cut exports from Bulgaria, accounting for a 90% share of total exports. Moreover, fresh pork cut exports to Romania exceeded the volume sent to the second major destination, Greece (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania totaled +29.3%.

In value terms, Romania ($X) remains the key foreign market for fresh or chilled hams, shoulders and cuts of pig meat exports from Bulgaria, comprising 89% of total exports. The second position in the ranking was held by Greece ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania amounted to +31.6%.

Export Prices by Country

In 2022, the average fresh pork cut export price amounted to $X per ton, dropping by -7.6% against the previous year. Over the period under review, the export price, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of 129%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign 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 Romania stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+7.2%).

Fresh Pork Cut Imports

Imports into Bulgaria

In 2022, overseas purchases of fresh or chilled hams, shoulders and cuts of pig meat increased by 9.5% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 27% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, fresh pork cut imports surged to $X in 2022. Overall, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +38.8% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by 49% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

Spain (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of fresh pork cut imports to Bulgaria, with a combined 73% share of total imports. Germany, Hungary and Belgium lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +11.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fresh pork cut suppliers to Bulgaria were Spain ($X), France ($X) and the Netherlands ($X), together accounting for 75% of total imports.

The Netherlands, with a CAGR of +10.0%, 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

In 2022, the average fresh pork cut import price amounted to $X per ton, jumping by 26% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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