Bulgaria: Wheat Starch Market 2024

Wheat Starch Market Size in Bulgaria

In 2021, the Bulgarian wheat starch market decreased by -16.2% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% 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 +12.2% against 2017 indices. As a result, consumption reached the peak level of $X, and then dropped markedly in the following year.

Wheat Starch Production in Bulgaria

In value terms, wheat starch production shrank remarkably to $X in 2021 estimated in export price. Overall, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +19.3% against 2017 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 53% against the previous year. As a result, production attained the peak level of $X, and then reduced markedly in the following year.

Wheat Starch Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded decline in overseas shipments of wheat starch, which decreased by -13% to X tons in 2021. Overall, exports showed a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 267% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat starch exports plummeted to $X in 2021. In general, exports faced a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 310%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

North Macedonia (X tons) was the main destination for wheat starch exports from Bulgaria, with a 86% share of total exports. Moreover, wheat starch exports to North Macedonia exceeded the volume sent to the second major destination, Albania (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to North Macedonia amounted to +234.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (0.0% per year) and Germany (+407.0% per year).

In value terms, North Macedonia ($X) emerged as the key foreign market for wheat starch exports from Bulgaria, comprising 87% of total exports. The second position in the ranking was taken by Albania ($X), with a 5.7% share of total exports. It was followed by Greece, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to North Macedonia stood at +231.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (0.0% per year) and Greece (-40.2% per year).

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, shrinking by -50.4% against the previous year. In general, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then declined notably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Germany ($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 Romania (+2.0%), while the prices for the other major destinations experienced a decline.

Wheat Starch Imports

Imports into Bulgaria

In 2021, supplies from abroad of wheat starch was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 33%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wheat starch imports declined to $X in 2021. Overall, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 38%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Hungary (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of wheat starch imports to Bulgaria, with a combined 74% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +692.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and Austria ($X) constituted the largest wheat starch suppliers to Bulgaria, with a combined 64% share of total imports.

Hungary, with a CAGR of +608.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, falling by -14.6% against the previous year. Overall, the import price recorded a noticeable descent. The pace of growth was the most pronounced in 2019 an increase of 12% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :