Gum Arabic Price in Bulgaria - 2023

Contents:

1. Gum Arabic Price in Bulgaria (CIF) - 2022
2. Gum Arabic Price in Bulgaria (FOB) - 2022
3. Gum Arabic Imports in Bulgaria
4. Gum Arabic Exports in Bulgaria

Gum Arabic Price in Bulgaria (CIF) - 2022

The average gum arabic import price stood at $4,753 per ton in 2022, growing by 9.7% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2019 an increase of 133%. The import price peaked at $6,585 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the Netherlands ($5,883 per ton), while the price for Italy ($3,243 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Gum Arabic Price in Bulgaria (FOB) - 2022

The average gum arabic export price stood at $2,969 per ton in 2022, waning by -9.4% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 an increase of 33% against the previous year. The export price peaked at $7,559 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($12,393 per ton), while the average price for exports to Russia ($2,524 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 Greece (+4.2%), while the prices for the other major destinations experienced a decline.

Gum Arabic Imports in Bulgaria

In 2022, approx. 50 tons of gum arabics were imported into Bulgaria; increasing by 7.4% compared with 2021 figures. The total import volume increased at an average annual rate of +2.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 20%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, gum arabic imports surged to $235K in 2022. Over the period under review, imports, however, showed a deep reduction.

Top Suppliers of Gum Arabic to Bulgaria in 2022:

1. France (13.5 tons)
2. Italy (12.5 tons)
3. Germany (12.3 tons)
4. India (6.8 tons)
5. Turkey (1.4 tons)
6. Romania (1.0 tons)
7. Greece (0.9 tons)
8. Netherlands (0.7 tons)

Gum Arabic Exports in Bulgaria

In 2022, shipments abroad of gum arabics was finally on the rise to reach 25 tons after two years of decline. Overall, total exports indicated modest growth from 2019 to 2022: its volume increased at an average annual rate of +1.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gum arabic exports skyrocketed to $74K in 2022. Over the period under review, exports, however, recorded a drastic downturn.

Top Export Markets for Gum Arabic from Bulgaria in 2022:

1. Kyrgyzstan (12.7 tons)
2. Russia (7.8 tons)
3. Armenia (2.0 tons)
4. Georgia (1.7 tons)
5. Canada (0.6 tons)

Source: IndexBox Market Intelligence Platform