Bulgaria: Olive Market 2024

Olive Market Size in Bulgaria

The Bulgarian olive market dropped dramatically to $X in 2022, waning by X% against the previous year. Over the period under review, consumption recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Olive Production in Bulgaria

In value terms, olive production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a dramatic descent. The most prominent rate of growth was recorded in 2014 with a decrease of X% against the previous year. Olive production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of olives in Bulgaria stood at less than X kg per ha in 2022, stabilizing at 2021. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of olives in Bulgaria was estimated at less than X ha, standing approx. at the previous year. Over the period under review, the harvested area showed a relatively flat trend pattern.

Olive Exports

Exports from Bulgaria

In 2022, overseas shipments of olives were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, olive exports skyrocketed to $X in 2022. In general, exports, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons), Germany (X tons) and Spain (X tons) were the main destinations of olive exports from Bulgaria, together accounting for X% of total exports. Cyprus and Austria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for olive exported from Bulgaria were Romania ($X), Germany ($X) and Spain ($X), with a combined X% share of total exports. Austria and Cyprus lagged somewhat behind, together comprising a further X%.

Cyprus, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average olive export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, saw a buoyant increase. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Austria ($X per ton), while the average price for exports to Romania ($X 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 Cyprus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Imports

Imports into Bulgaria

Olive imports into Bulgaria contracted dramatically to X tons in 2022, declining by X% on the year before. In general, imports recorded a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, olive imports reduced sharply to $X in 2022. Over the period under review, imports showed a deep slump. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest olive supplier to Bulgaria, with a X% share of total imports. Moreover, olive imports from Greece exceeded the figures recorded by the second-largest supplier, Syrian Arab Republic (X tons), threefold.

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

In value terms, Greece ($X) constituted the largest supplier of olives to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Greece totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Syrian Arab Republic (X% per year).

Import Prices by Country

In 2022, the average olive import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price showed a mild expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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