Bulgaria: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Bulgaria

In 2022, the Bulgarian wheat and meslin flour market increased by 32% to $X, rising for the third consecutive year after two years of decline. Overall, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +84.3% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Wheat and Meslin Flour in Bulgaria

In value terms, wheat and meslin flour production surged to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +82.4% against 2019 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Wheat and Meslin Flour

Exports from Bulgaria

In 2022, shipments abroad of wheat and meslin flour increased by 30% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a temperate expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 103%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, wheat and meslin flour exports skyrocketed to $X in 2022. Over the period under review, exports showed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for wheat and meslin flour exports from Bulgaria, with a 64% share of total exports. Moreover, wheat and meslin flour exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), threefold. France (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+1.4% per year) and France (+243.4% per year).

In value terms, Greece ($X) remains the key foreign market for wheat and meslin flour exports from Bulgaria, comprising 59% of total exports. The second position in the ranking was held by Romania ($X), with a 27% share of total exports. It was followed by Spain, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value to Greece stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+4.7% per year) and Spain (+103.7% per year).

Export Prices by Country

In 2022, the average wheat and meslin flour export price amounted to $X per ton, with an increase of 38% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +121.1% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Greece ($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 (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Bulgaria

In 2022, after four years of growth, there was significant decline in overseas purchases of wheat and meslin flour, when their volume decreased by -52.7% to X tons. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 40% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, wheat and meslin flour imports dropped significantly to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 29%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of wheat and meslin flour to Bulgaria, accounting for a 60% share of total imports. Moreover, wheat and meslin flour imports from Greece exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from Greece stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.0% per year) and Germany (+36.7% per year).

In value terms, Greece ($X) constituted the largest supplier of wheat and meslin flour to Bulgaria, comprising 56% of total imports. The second position in the ranking was taken by Italy ($X), with a 25% share of total imports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Greece was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.8% per year) and Germany (+28.3% per year).

Import Prices by Country

The average wheat and meslin flour import price stood at $X per ton in 2022, surging by 36% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour import price increased by +41.7% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 74% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Ukraine ($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 (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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