Bulgaria: Molasse Market 2024

Molasse Market Size in Bulgaria

For the third consecutive year, the Bulgarian molasse market recorded growth in sales value, which increased by 21% to $X in 2022. Overall, consumption, however, continues to indicate a deep contraction. Molasse consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Molasse Production in Bulgaria

In value terms, molasse production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 21% against the previous year. Molasse production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Molasse Exports

Exports from Bulgaria

In 2022, overseas shipments of molasses decreased by -86.1% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 63,494% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, molasse exports contracted markedly to $X in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2015 with an increase of 5,989% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X tons), Romania (X tons) and Finland (X kg) were the main destinations of molasse exports from Bulgaria, together comprising 91% of total exports. Ukraine, Georgia and Hungary lagged somewhat behind, together accounting for a further 5.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +453.1%), while the other leaders experienced mixed trend patterns.

In value terms, Greece ($X) emerged as the key foreign market for molasses exports from Bulgaria, comprising 77% of total exports. The second position in the ranking was taken by Romania ($X), with a 7.7% share of total exports. It was followed by Finland, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece totaled +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+4.7% per year) and Finland (-54.1% per year).

Export Prices by Country

The average molasse export price stood at $X per ton in 2022, surging by 12% against the previous year. In general, the export price recorded a moderate increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 276%. Over the period under review, the average export prices reached 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 Finland ($X per ton), while the average price for exports to Romania ($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 (+56.9%), while the prices for the other major destinations experienced more modest paces of growth.

Molasse Imports

Imports into Bulgaria

In 2022, molasse imports into Bulgaria soared to X tons, picking up by 35% compared with the previous year. Overall, imports, however, saw a sharp decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 339%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, molasse imports skyrocketed to $X in 2022. Over the period under review, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 415%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Romania (X tons) constituted the largest molasse supplier to Bulgaria, accounting for a 82% share of total imports. Moreover, molasse imports from Romania exceeded the figures recorded by the second-largest supplier, Moldova (X tons), sixfold. The third position in this ranking was held by Germany (X tons), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania amounted to -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+27.3% per year) and Germany (+36.6% per year).

In value terms, the largest molasse suppliers to Bulgaria were Romania ($X), Germany ($X) and Moldova ($X), with a combined 96% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +36.6%, saw the highest rates of growth with regard to 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 molasse import price stood at $X per ton in 2022, waning by -10.2% against the previous year. In general, the import price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 an increase of 55% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined in the following year.

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 Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+58.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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