Bulgaria: Cereal Grains Market 2022

Cereal Grains Market Size in Bulgaria

In 2021, the Bulgarian cereal grains market decreased by -X% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption continues to indicate a perceptible decrease. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Cereal Grains Production in Bulgaria

In value terms, cereal grains production dropped dramatically to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted notably in the following year.

Cereal Grains Exports

Exports from Bulgaria

For the fifth consecutive year, Bulgaria recorded growth in shipments abroad of cereal grains, which increased by X% to X tons in 2021. Overall, exports saw a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, cereal grains exports soared to $X in 2021. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Greece (X tons) was the main destination for cereal grains exports from Bulgaria, with a X% share of total exports. Moreover, cereal grains exports to Greece exceeded the volume sent to the second major destination, Cyprus (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece amounted to +X%.

In value terms, Greece ($X) remains the key foreign market for cereal grains exports from Bulgaria, comprising X% of total exports. The second position in the ranking was occupied by Cyprus ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece stood at +X%.

Export Prices by Country

The average cereal grains export price stood at $X per ton in 2021, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Cyprus ($X per ton), while the average price for exports to Greece stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+X%).

Cereal Grains Imports

Imports into Bulgaria

In 2021, cereal grains imports into Bulgaria was estimated at X tons, growing by X% on 2020 figures. The total import volume increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, cereal grains imports soared to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X tons), Ukraine (X tons) and Germany (X tons) were the main suppliers of cereal grains imports to Bulgaria, with a combined X% share of total imports. Finland, Russia, Lithuania and Austria lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Ukraine ($X) and Finland ($X) constituted the largest cereal grains suppliers to Bulgaria, together accounting for X% of total imports.

Among the main suppliers, Finland, with a CAGR of +X%, saw the highest rates of growth with regard to 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

The average cereal grains import price stood at $X per ton in 2021, rising by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Austria ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform