Bulgaria: Molluscs Market 2024

Molluscs Market Size in Bulgaria

The Bulgarian molluscs market fell slightly to $X in 2021, approximately reflecting the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Molluscs Production in Bulgaria

In value terms, molluscs production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Molluscs Exports

Exports from Bulgaria

In 2021, overseas shipments of molluscs (scallops, mussels, cuttle fish, squid and octopus) decreased by -56.6% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, exports saw a sharp shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 158% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, molluscs exports fell significantly to $X in 2021. In general, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 103% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for molluscs exports from Bulgaria, accounting for a 58% share of total exports. Moreover, molluscs exports to the Netherlands exceeded the volume sent to the second major destination, Greece (X tons), twofold. The third position in this ranking was taken by Romania (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands stood at -12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+122.3% per year) and Romania (-14.6% per year).

In value terms, the Netherlands ($X) remains the key foreign market for molluscs (scallops, mussels, cuttle fish, squid and octopus) exports from Bulgaria, comprising 67% of total exports. The second position in the ranking was held by Greece ($X), with a 23% share of total exports. It was followed by Romania, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+125.0% per year) and Romania (-13.0% per year).

Export Prices by Country

The average molluscs export price stood at $X per ton in 2021, picking up by 4.3% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, molluscs export price decreased by -7.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 103%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Bulgaria

After two years of decline, purchases abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by 36% to X tons in 2021. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 139% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, molluscs imports surged to $X in 2021. Over the period under review, imports posted a strong expansion. The growth pace was the most rapid in 2017 with an increase of 66%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Romania (X tons), China (X tons) and Greece (X tons) were the main suppliers of molluscs imports to Bulgaria, with a combined 63% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +32.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest molluscs suppliers to Bulgaria were Greece ($X), Spain ($X) and China ($X), with a combined 69% share of total imports. New Zealand, Belgium, Romania and the Netherlands lagged somewhat behind, together comprising a further 25%.

New Zealand, with a CAGR of +25.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average molluscs import price amounted to $X per ton, growing by 16% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, molluscs import price increased by +30.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 36%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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