Bulgaria: Malt Market 2024

Malt Market Size in Bulgaria

In 2022, the Bulgarian malt market decreased by -4.1% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped slightly in the following year.

Malt Production in Bulgaria

In value terms, malt production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 13%. Malt production peaked at $X in 2021, and then shrank in the following year.

Malt Exports

Exports from Bulgaria

Malt exports from Bulgaria soared to X tons in 2022, jumping by 156% compared with the previous year. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 518% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, malt exports surged to $X in 2022. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 326%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X tons) was the main destination for malt exports from Bulgaria, accounting for a 94% share of total exports. It was followed by Armenia (X tons), with a 2.3% share of total exports. The third position in this ranking was taken by North Macedonia (X tons), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to Greece stood at +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+48.9% per year) and North Macedonia (+47.8% per year).

In value terms, Greece ($X) remains the key foreign market for malt exports from Bulgaria, comprising 86% of total exports. The second position in the ranking was held by Armenia ($X), with a 4.4% share of total exports. It was followed by North Macedonia, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece amounted to +42.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+50.7% per year) and North Macedonia (+41.0% per year).

Export Prices by Country

The average malt export price stood at $X per ton in 2022, growing by 14% against the previous year. In general, the export price continues to indicate a notable expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 85%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Greece ($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 Greece (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Malt Imports

Imports into Bulgaria

Malt imports into Bulgaria stood at X tons in 2022, remaining relatively unchanged against the previous year. Overall, imports, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 22% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, malt imports shrank to $X in 2022. In general, imports, however, recorded a perceptible downturn. The growth pace was the most rapid in 2013 when imports increased by 28% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Austria (X tons) constituted the largest malt supplier to Bulgaria, accounting for a 66% share of total imports. Moreover, malt imports from Austria exceeded the figures recorded by the second-largest supplier, Romania (X tons), fivefold. The third position in this ranking was held by Hungary (X tons), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from Austria stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-1.2% per year) and Hungary (-1.1% per year).

In value terms, Austria ($X) constituted the largest supplier of malt to Bulgaria, comprising 58% of total imports. The second position in the ranking was taken by Romania ($X), with a 15% share of total imports. It was followed by Slovakia, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from Austria totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+2.3% per year) and Slovakia (-9.7% per year).

Import Prices by Country

In 2022, the average malt import price amounted to $X per ton, falling by -3.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 39%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 the Czech Republic ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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