Bulgaria: Potato Starch Market 2024

Potato Starch Market Size in Bulgaria

In 2021, the Bulgarian potato starch market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a relatively flat trend pattern. Potato starch consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Potato Starch Production in Bulgaria

In value terms, potato starch production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 21%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Potato Starch Exports

Exports from Bulgaria

In 2021, the amount of potato starch exported from Bulgaria rose rapidly to X tons, increasing by 9.4% on 2020 figures. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2014 when exports increased by 99%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, potato starch exports shrank to $X in 2021. Over the period under review, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 133%. The exports peaked at $X in 2020, and then declined in the following year.

Exports by Country

Greece (X tons) was the main destination for potato starch exports from Bulgaria, accounting for a 95% share of total exports. Moreover, potato starch exports to Greece exceeded the volume sent to the second major destination, Cyprus (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece amounted to +23.4%.

In value terms, Greece ($X) remains the key foreign market for potato starch exports from Bulgaria, comprising 96% of total exports. The second position in the ranking was held by Cyprus ($X), with a 3.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece amounted to +21.2%.

Export Prices by Country

In 2021, the average potato starch export price amounted to $X per ton, dropping by -15.7% against the previous year. Over the period under review, the export price continues to indicate a slight reduction. The growth pace was the most rapid in 2018 an increase of 31% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Cyprus stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+1.3%).

Potato Starch Imports

Imports into Bulgaria

In 2021, purchases abroad of potato starch increased by 24% to X tons, rising for the second year in a row after three years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 61% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, potato starch imports stood at $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of potato starch to Bulgaria, accounting for a 36% share of total imports. Moreover, potato starch imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was taken by Austria (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-14.6% per year) and Austria (+55.4% per year).

In value terms, Germany ($X) constituted the largest supplier of potato starch to Bulgaria, comprising 37% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total imports. It was followed by Austria, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-14.5% per year) and Austria (+51.4% per year).

Import Prices by Country

In 2021, the average potato starch import price amounted to $X per ton, falling by -18.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Denmark ($X per ton), while the price for Poland ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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