Bulgaria: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Bulgaria

The Bulgarian non-cane molasses market rose slightly to $X in 2022, growing by 2.8% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Non-cane molasses consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in Bulgaria

In value terms, non-cane molasses production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 35% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Non-Cane Molasses Exports

Exports from Bulgaria

In 2022, shipments abroad of molasses (excluding cane molasses) decreased by -99.5% to X kg, falling for the second consecutive year after three years of growth. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 when exports increased by 21,302% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-cane molasses exports shrank notably to $X in 2022. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 13,617%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Georgia (X kg) was the main destination for non-cane molasses exports from Bulgaria, accounting for a 58% share of total exports. Moreover, non-cane molasses exports to Georgia exceeded the volume sent to the second major destination, Ukraine (X kg), fourfold. Armenia (X kg) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+13.7% per year) and Armenia (0.0% per year).

In value terms, Georgia ($X) emerged as the key foreign market for molasses (excluding cane molasses) exports from Bulgaria, comprising 45% of total exports. The second position in the ranking was taken by Armenia ($X), with a 21% share of total exports. It was followed by Ukraine, with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (0.0% per year) and Ukraine (-27.0% per year).

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, growing by 35% against the previous year. In general, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 385% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Georgia ($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 Romania (+393.4%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into Bulgaria

In 2022, the amount of molasses (excluding cane molasses) imported into Bulgaria reduced to X tons, dropping by -6.4% against 2021 figures. Overall, imports showed a sharp contraction. The growth pace was the most rapid in 2020 when imports increased by 340% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-cane molasses imports rose modestly to $X in 2022. In general, imports faced a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 424% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of non-cane molasses to Bulgaria, with a 68% share of total imports. Moreover, non-cane molasses imports from Romania exceeded the figures recorded by the second-largest supplier, Moldova (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania stood at +46.0%. 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, Germany ($X), Romania ($X) and Moldova ($X) constituted the largest non-cane molasses suppliers to Bulgaria, together accounting for 95% of total imports.

Among 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

In 2022, the average non-cane molasses import price amounted to $X per ton, surging by 10% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2017 an increase of 64%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Ukraine (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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