Bulgaria: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Bulgaria

The Bulgarian fish fat and oil market reached $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Fish Fats And Oils in Bulgaria

In value terms, fish fat and oil production rose to $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Fish Fats And Oils

Exports from Bulgaria

After two years of decline, overseas shipments of fish fats and oils decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The exports peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, fish fat and oil exports contracted dramatically to $X in 2022. Overall, exports showed a sharp curtailment. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X tons) was the main destination for fish fat and oil exports from Bulgaria, accounting for a X% share of total exports. Moreover, fish fat and oil exports to Greece exceeded the volume sent to the second major destination, Chile (X tons), twofold.

From 2017 to 2022, the average annual rate of growth in terms of volume to Greece totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and the Netherlands (X% per year).

In value terms, Greece ($X) emerged as the key foreign market for fish fats and oils exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports.

From 2017 to 2022, the average annual rate of growth in terms of value to Greece stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average fish fat and oil export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a precipitous slump. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (X%), while the prices for the other major destinations experienced a decline.

Imports of Fish Fats And Oils

Imports into Bulgaria

In 2022, after five years of growth, there was significant decline in overseas purchases of fish fats and oils, when their volume decreased by X% to X tons. Over the period under review, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined remarkably in the following year.

In value terms, fish fat and oil imports dropped significantly to $X in 2022. In general, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest fish fat and oil supplier to Bulgaria, with a X% share of total imports. Moreover, fish fat and oil imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. Sweden (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Sweden (X% per year).

In value terms, Hungary ($X), Sweden ($X) and Germany ($X) appeared to be the largest fish fat and oil suppliers to Bulgaria, together comprising X% of total imports. The Czech Republic, the Netherlands and Poland lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, saw 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 more modest paces of growth.

Import Prices by Country

In 2022, the average fish fat and oil import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price, however, faced a deep setback. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

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 Hungary ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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