Price for Flours and Meals; of Soya Beans in Bulgaria - 2023

Price for Flours and Meals; of Soya Beans in Bulgaria (CIF) - 2023

The average import price for flours and meals; of soya beanses stood at $581 per ton in September 2023, standing approximately at the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 11% m-o-m. The import price peaked at $677 per ton in February 2023; however, from March 2023 to September 2023, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Serbia.

From November 2022 to September 2023, the rate of growth in terms of prices for Serbia amounted to +1.2% per month.

Price for Flours and Meals; of Soya Beans in Bulgaria (FOB) - 2022

The average export price for flours and meals; of soya beanses stood at $1,327 per ton in 2022, falling by -5.2% against the previous year. Overall, the export price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 66% against the previous year. Over the period under review, the average export prices hit record highs at $1,463 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($1,385 per ton), while the average price for exports to Greece amounted to $1,311 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+21.3%).

Imports of Flours and Meals; of Soya Beans in Bulgaria

In 2022, purchases abroad of flours and meals; of soya beanses decreased by -18.7% to 25K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +3.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 30%. As a result, imports reached the peak of 31K tons, and then shrank remarkably in the following year.

In value terms, imports of flours and meals; of soya beanses stood at $14M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in years to come.

Import of Flours and Meals; of Soya Beans in Bulgaria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Romania	7.0	8.3	10.2	11.9	19.3%
Greece	0.2	1.4	3.8	2.0	115.4%
Portugal	0.8	N/A	N/A	N/A	0%
Others	N/A	0.1	0.2	0.3	73.2%
Total	8.0	9.7	14.2	14.2	21.1%

Top Suppliers of Flours and Meals; of Soya Beans to Bulgaria in 2022:

Romania (20.6K tons)
Greece (4.0K tons)

Exports of Flours and Meals; of Soya Beans in Bulgaria

Exports of flours and meals; of soya beanses from Bulgaria skyrocketed to 86 tons in 2022, rising by 2,537% on the year before. Over the period under review, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of flours and meals; of soya beanses surged to $114K in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.