Bulgaria: Wheat Market 2025

Wheat Market Size in Bulgaria

In 2022, the Bulgarian wheat market increased by 1.4% to $X, rising for the third year in a row after two years of decline. Overall, consumption saw a pronounced decrease. Wheat consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Wheat Production in Bulgaria

In value terms, wheat production contracted modestly to $X in 2022 estimated in export price. In general, production saw a slight decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16% against the previous year. Wheat production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The average yield of wheat in Bulgaria shrank sharply to X tons per ha in 2022, waning by -16.8% against 2021 figures. The yield figure increased at an average annual rate of +3.0% 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 2021 when the yield increased by 51% against the previous year. As a result, the yield attained the peak level of X tons per ha, and then plummeted in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the wheat harvested area in Bulgaria fell modestly to X ha, remaining stable against 2021 figures. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 11% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the wheat harvested area remained at a somewhat lower figure.

Wheat Exports

Exports from Bulgaria

Wheat exports from Bulgaria contracted markedly to X tons in 2022, waning by -20.9% compared with the previous year's figure. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 58% against the previous year. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, wheat exports rose rapidly to $X in 2022. In general, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 91% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Algeria (X tons) was the main destination for wheat exports from Bulgaria, with a 33% share of total exports. Moreover, wheat exports to Algeria exceeded the volume sent to the second major destination, Greece (X tons), threefold. The third position in this ranking was held by Tunisia (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Algeria totaled +91.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+4.4% per year) and Tunisia (+29.9% per year).

In value terms, Algeria ($X) emerged as the key foreign market for wheat exports from Bulgaria, comprising 33% of total exports. The second position in the ranking was taken by Greece ($X), with a 12% share of total exports. It was followed by Tunisia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria stood at +101.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+6.7% per year) and Tunisia (+33.4% per year).

Export Prices by Country

In 2022, the average wheat export price amounted to $X per ton, rising by 38% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by +105.2% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Egypt ($X per ton) and Turkey ($X per ton), while the average price for exports to Romania ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into Bulgaria

In 2022, the amount of wheat imported into Bulgaria soared to X tons, with an increase of 60% compared with the previous year's figure. In general, imports recorded a prominent increase. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, wheat imports skyrocketed to $X in 2022. Overall, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 91% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Austria (X tons) and Romania (X tons) were the main suppliers of wheat imports to Bulgaria, with a combined 89% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +116.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat suppliers to Bulgaria were Austria ($X), Ukraine ($X) and Romania ($X), together comprising 83% of total imports.

In terms of the main suppliers, Ukraine, with a CAGR of +146.2%, recorded the highest growth rate of 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 2022, the average wheat import price amounted to $X per ton, which is down by -17.3% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat import price increased by +68.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 63%. As a result, import price attained the peak level of $X per ton, and then contracted markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Ukraine ($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 (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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