Bulgaria: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Bulgaria

The Bulgarian sunflower oilcake market skyrocketed to $X in 2021, jumping by 58% against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +83.0% against 2018 indices. Sunflower oilcake consumption peaked in 2021 and is likely to continue growth in the near future.

Sunflower Oilcake Production in Bulgaria

In value terms, sunflower oilcake production soared to $X in 2021 estimated in export price. Over the period under review, production saw strong growth. The pace of growth was the most pronounced in 2014 with an increase of 43%. Sunflower oilcake production peaked in 2021 and is likely to see steady growth in the immediate term.

Sunflower Oilcake Exports

Exports from Bulgaria

Sunflower oilcake exports from Bulgaria rose notably to X tons in 2021, picking up by 7.5% compared with the year before. Over the period under review, exports posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 48% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sunflower oilcake exports skyrocketed to $X in 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 48%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for sunflower oilcake exports from Bulgaria, with a 51% share of total exports. Moreover, sunflower oilcake exports to China exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. The third position in this ranking was held by Greece (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +502.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+22.0% per year) and Greece (+11.7% per year).

In value terms, China ($X) emerged as the key foreign market for sunflower oilcake exports from Bulgaria, comprising 50% of total exports. The second position in the ranking was held by Turkey ($X), with a 13% share of total exports. It was followed by Greece, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +708.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+26.6% per year) and Greece (+11.9% per year).

Export Prices by Country

In 2021, the average sunflower oilcake export price amounted to $X per ton, surging by 30% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to North Macedonia ($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 China (+33.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Bulgaria

In 2021, overseas purchases of sunflower oilcake increased by 173% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 1,935% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports surged to $X in 2021. Over the period under review, imports enjoyed notable growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,169% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Romania (X tons) constituted the largest sunflower oilcake supplier to Bulgaria, with a 75% share of total imports. Moreover, sunflower oilcake imports from Romania exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Romania totaled +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-15.0% per year) and Hungary (+53.0% per year).

In value terms, Romania ($X) constituted the largest supplier of sunflower oilcake to Bulgaria, comprising 84% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Romania totaled +33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-16.8% per year) and Hungary (+43.3% per year).

Import Prices by Country

In 2021, the average sunflower oilcake import price amounted to $X per ton, growing by 50% against the previous year. Overall, the import price enjoyed a notable expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 176%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Romania ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+10.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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