Bulgaria: Milk Market 2024

Milk Market Size in Bulgaria

The Bulgarian milk market rose slightly to $X in 2022, growing by X% against the previous year. Overall, consumption, however, saw a mild decline. Milk consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Milk Production in Bulgaria

In value terms, milk production expanded modestly to $X in 2022 estimated in export price. In general, production, however, showed a mild curtailment. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Milk Exports

Exports from Bulgaria

In 2022, overseas shipments of milk decreased by X% to X tons, falling for the fourth year in a row after two years of growth. In general, exports saw a perceptible setback. The pace of growth appeared the most rapid in 2015 when exports increased by X% 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, milk exports reduced dramatically to $X in 2022. Over the period under review, exports saw a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X tons) was the main destination for milk exports from Bulgaria, accounting for a X% share of total exports. Moreover, milk exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), ninefold. Cyprus (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Greece ($X) remains the key foreign market for milk exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Romania ($X), with a X% share of total exports. It was followed by Cyprus, with a X% share.

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

Export Prices by Country

In 2022, the average milk export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, milk export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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

Milk Imports

Imports into Bulgaria

For the third year in a row, Bulgaria recorded growth in overseas purchases of milk, which increased by X% to X tons in 2022. Overall, imports showed a strong increase. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, milk imports skyrocketed to $X in 2022. In general, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of X% 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.

Imports by Country

Romania (X tons), Hungary (X tons) and the Czech Republic (X tons) were the main suppliers of milk imports to Bulgaria, together accounting for X% of total imports. Poland, Serbia, the Netherlands, Greece and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest milk suppliers to Bulgaria were Romania ($X), Hungary ($X) and Poland ($X), together comprising X% of total imports. The Czech Republic, Serbia, Greece, the Netherlands and Germany lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Serbia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average milk import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked 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 Poland ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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