Bulgaria: Cow Peas Market 2023

Cow Peas Market Size in Bulgaria

The Bulgarian cow peas market reduced to $X in 2021, waning by -2.5% against the previous year. Overall, consumption, however, continues to indicate a temperate expansion. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Cow Peas Production in Bulgaria

In value terms, cow peas production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2019 with a decrease of -21.9%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Cow Peas Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded decline in overseas shipments of cow peas (dry), which decreased by -45.6% to X tons in 2021. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 10,108% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cow peas exports reduced markedly to $X in 2021. Overall, exports faced a abrupt decrease. The growth pace was the most rapid in 2018 when exports increased by 9,801% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X tons) and Greece (X tons) were the main destinations of cow peas exports from Bulgaria.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +72.2%).

In value terms, Romania ($X) remains the key foreign market for cow peas exports from Bulgaria, comprising 90% of total exports. The second position in the ranking was taken by Greece ($X), with a 9.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +8.6%.

Export Prices by Country

The average cow peas export price stood at $X per ton in 2021, which is down by -41.8% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by 48% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Romania ($X per ton), while the average price for exports to Greece totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into Bulgaria

Cow peas imports into Bulgaria shrank dramatically to X tons in 2021, reducing by -79.5% compared with the previous year's figure. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 403%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, cow peas imports fell markedly to $X in 2021. Over the period under review, imports faced a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 490% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Poland (X tons), Canada (X tons) and Romania (X tons) were the main suppliers of cow peas imports to Bulgaria, together accounting for 94% of total imports.

From 2012 to 2021, the biggest increases were in Romania (with a CAGR of +11.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest cow peas suppliers to Bulgaria were Poland ($X), Romania ($X) and Canada ($X), together accounting for 94% of total imports.

Poland, with a CAGR of +18.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cow peas import price stood at $X per ton in 2021, remaining constant against the previous year. In general, the import price, however, saw buoyant growth. The pace of growth was the most pronounced in 2013 an increase of 73%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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