Bulgaria: Mustard Seed Market 2024

Mustard Seed Market Size in Bulgaria

The Bulgarian mustard seed market surged to $X in 2022, picking up by 18% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Mustard Seed Production in Bulgaria

In value terms, mustard seed production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 78%. Mustard seed production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of mustard seed in Bulgaria dropped slightly to X kg per ha, almost unchanged from 2021 figures. Overall, the yield continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2014 when the yield increased by 7% against the previous year. As a result, the yield reached the peak level of X kg per ha. From 2015 to 2022, the growth of the average mustard seed yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of mustard seed production in Bulgaria totaled X ha, almost unchanged from 2021. The harvested area increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 9.6% against the previous year. Over the period under review, the harvested area dedicated to mustard seed production reached the maximum at X ha in 2020; afterwards, it flattened through to 2022.

Mustard Seed Exports

Exports from Bulgaria

In 2022, after three years of growth, there was significant decline in overseas shipments of mustard seed, when their volume decreased by -58.5% to X tons. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 409% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell sharply in the following year.

In value terms, mustard seed exports dropped remarkably to $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by 224%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Greece (X tons) was the main destination for mustard seed exports from Bulgaria, accounting for a 89% share of total exports. Moreover, mustard seed exports to Greece exceeded the volume sent to the second major destination, North Macedonia (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at +5.6%.

In value terms, Greece ($X) emerged as the key foreign market for mustard seed exports from Bulgaria, comprising 87% of total exports. The second position in the ranking was held by North Macedonia ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Greece totaled +17.6%.

Export Prices by Country

In 2022, the average mustard seed export price amounted to $X per ton, with an increase of 63% against the previous year. In general, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 78%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major foreign 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 Greece totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+11.3%), while the prices for the other major destinations experienced mixed trend patterns.

Mustard Seed Imports

Imports into Bulgaria

In 2022, approx. X tons of mustard seed were imported into Bulgaria; increasing by 123% compared with the previous year. Overall, imports enjoyed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, mustard seed imports soared to $X in 2022. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest mustard seed supplier to Bulgaria, with a 48% share of total imports. Moreover, mustard seed imports from Ukraine exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Austria (X tons), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+47.7% per year) and Austria (+65.1% per year).

In value terms, Ukraine ($X) constituted the largest supplier of mustard seed to Bulgaria, comprising 56% of total imports. The second position in the ranking was held by Austria ($X), with an 18% share of total imports. It was followed by India, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine amounted to +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+77.2% per year) and India (+51.8% per year).

Import Prices by Country

The average mustard seed import price stood at $X per ton in 2022, picking up by 34% against the previous year. In general, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 77% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Kazakhstan ($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 (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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