Bulgaria: Preserved Tuna Market 2024

Preserved Tuna Market Size in Bulgaria

For the sixth consecutive year, the Bulgarian preserved tuna market recorded growth in sales value, which increased by 12% to $X in 2021. Overall, consumption, however, recorded a prominent increase. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Preserved Tuna Production in Bulgaria

In value terms, preserved tuna production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a significant increase. The growth pace was the most rapid in 2018 when the production volume increased by 99% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Tuna Exports

Exports from Bulgaria

In 2021, overseas shipments of tuna (prepared or preserved) decreased by -29.6% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 3,590%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved tuna exports reduced rapidly to $X in 2021. Overall, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 2,795%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Serbia (X tons), Romania (X tons) and Sweden (X tons) were the main destinations of preserved tuna exports from Bulgaria, together comprising 72% of total exports. These countries were followed by Greece, Poland, North Macedonia, Slovakia and Croatia, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +91.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Serbia ($X) and Poland ($X) were the largest markets for preserved tuna exported from Bulgaria worldwide, together comprising 70% of total exports. Sweden, Greece, Slovakia, North Macedonia and Croatia lagged somewhat behind, together accounting for a further 27%.

North Macedonia, with a CAGR of +67.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, surging by 14% against the previous year. Over the period under review, the export price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2014 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Sweden ($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 Slovakia (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Bulgaria

In 2021, after three years of growth, there was significant decline in supplies from abroad of tuna (prepared or preserved), when their volume decreased by -11.4% to X tons. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 84%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, preserved tuna imports stood at $X in 2021. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 53% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Vietnam (X tons) and Indonesia (X tons) were the main suppliers of preserved tuna imports to Bulgaria, with a combined 58% share of total imports. Spain, Italy, Ecuador and China lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Ecuador (with a CAGR of +133.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved tuna suppliers to Bulgaria were Germany ($X), Italy ($X) and Vietnam ($X), with a combined 57% share of total imports. Indonesia, Spain, Ecuador and China lagged somewhat behind, together comprising a further 37%.

In terms of the main suppliers, Ecuador, with a CAGR of +134.6%, saw the highest rates of growth with regard to the value of imports, 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 preserved tuna import price amounted to $X per ton, with an increase of 15% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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