Bulgaria: Millet Market 2025

Millet Market Size in Bulgaria

The Bulgarian millet market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Millet Production in Bulgaria

In value terms, millet production rose slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 40%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of millet in Bulgaria reached X tons per ha in 2022, almost unchanged from the year before. The yield figure increased at an average annual rate of +1.2% 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 2016 when the yield increased by 16% against the previous year. Over the period under review, the average millet yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of millet in Bulgaria totaled X ha, stabilizing at the previous year's figure. Over the period under review, the harvested area, however, showed a noticeable decrease. The growth pace was the most rapid in 2015 with an increase of 40% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the millet harvested area failed to regain momentum.

Millet Exports

Exports from Bulgaria

In 2022, after three years of growth, there was significant decline in shipments abroad of millet, when their volume decreased by -53.9% to X tons. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 368% against the previous year. As a result, the exports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, millet exports reduced notably to $X in 2022. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 355%. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

Brazil (X tons) was the main destination for millet exports from Bulgaria, with a 58% share of total exports. Moreover, millet exports to Brazil exceeded the volume sent to the second major destination, Greece (X tons), fourfold. The third position in this ranking was taken by Poland (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil totaled +33.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+0.5% per year) and Poland (+172.1% per year).

In value terms, Brazil ($X) remains the key foreign market for millet exports from Bulgaria, comprising 57% of total exports. The second position in the ranking was taken by Greece ($X), with a 14% share of total exports. It was followed by Poland, with a 4% share.

From 2012 to 2022, the average annual growth rate of value to Brazil amounted to +47.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-1.1% per year) and Poland (+176.2% per year).

Export Prices by Country

The average millet export price stood at $X per ton in 2022, picking up by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2018 an increase of 32%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Greece ($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 Belgium (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into Bulgaria

In 2022, approx. X tons of millet were imported into Bulgaria; declining by -29.1% on 2021. In general, imports, however, showed a strong increase. The growth pace was the most rapid in 2019 with an increase of 362% against the previous year. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, millet imports shrank modestly to $X in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 335%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest supplier of millet to Bulgaria, accounting for a 88% share of total imports. Moreover, millet imports from Ukraine exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold. The third position in this ranking was taken by Moldova (X tons), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine stood at +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and Moldova (-76.4% per year).

In value terms, Ukraine ($X) constituted the largest supplier of millet to Bulgaria, comprising 82% of total imports. The second position in the ranking was taken by Brazil ($X), with a 10% share of total imports. It was followed by Moldova, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and Moldova (-72.1% per year).

Import Prices by Country

The average millet import price stood at $X per ton in 2022, growing by 37% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average import price increased by 86% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 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 Brazil ($X per ton), while the price for Moldova ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+18.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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