Bulgaria: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Bulgaria

The Bulgarian potassic fertilizer market surged to $X in 2022, with an increase of X% against the previous year. In general, consumption posted perceptible growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Potassic Fertilizer Production in Bulgaria

In value terms, potassic fertilizer production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Potassic Fertilizer Exports

Exports from Bulgaria

In 2022, approx. X tons of potassic fertilizers were exported from Bulgaria; rising by X% on the previous year. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, potassic fertilizer exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Serbia (X tons) was the main destination for potassic fertilizer exports from Bulgaria, accounting for a X% share of total exports. Moreover, potassic fertilizer exports to Serbia exceeded the volume sent to the second major destination, Greece (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Serbia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and Romania (X% per year).

In value terms, Serbia ($X) emerged as the key foreign market for potassic fertilizers exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Greece ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and Romania (X% per year).

Export Prices by Country

In 2022, the average potassic fertilizer export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Romania ($X per ton), while the average price for exports to Serbia ($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 (X%), while the prices for the other major destinations experienced a decline.

Potassic Fertilizer Imports

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in supplies from abroad of potassic fertilizers, when their volume decreased by X% to X tons. In general, imports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, potassic fertilizer imports reached $X in 2022. Over the period under review, imports, however, showed perceptible growth. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest potassic fertilizer supplier to Bulgaria, with a X% share of total imports. Moreover, potassic fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Germany (X% per year).

In value terms, Russia ($X) constituted the largest supplier of potassic fertilizers to Bulgaria, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average potassic fertilizer import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X% 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 the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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