Bulgaria: Safflower Seed Market 2024

Safflower Seed Market Size in Bulgaria

In 2022, the Bulgarian safflower seed market increased by X% to $X, rising for the third year in a row after two years of decline. In general, consumption saw a significant expansion. Safflower seed consumption peaked in 2022 and is expected to retain growth in the near future.

Safflower Seed Production in Bulgaria

In value terms, safflower seed production totaled $X in 2022 estimated in export price. In general, production recorded a dramatic slump. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of safflower seed in Bulgaria stood at less than X kg per ha, approximately reflecting the year before. In general, the yield recorded 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, approx. less than X ha of safflower seed were harvested in Bulgaria; remaining constant against the previous year's figure. In general, the harvested area showed a relatively flat trend pattern.

Safflower Seed Exports

Exports from Bulgaria

In 2022, after five years of growth, there was significant decline in overseas shipments of safflower seed, when their volume decreased by X% to X tons. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank significantly in the following year.

In value terms, safflower seed exports shrank notably to $X in 2022. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped markedly in the following year.

Exports by Country

The United States (X tons), Canada (X tons) and the UK (X tons) were the main destinations of safflower seed exports from Bulgaria, together comprising X% of total exports.

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

In value terms, the United States ($X), Canada ($X) and the UK ($X) appeared to be the largest markets for safflower seed exported from Bulgaria worldwide, together comprising X% of total exports.

The United States, with a CAGR of X%, recorded the highest growth rate of 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

The average safflower seed export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price recorded a moderate increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Canada ($X per ton), while the average price for exports to Jordan ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Safflower Seed Imports

Imports into Bulgaria

In 2022, after three years of growth, there was significant decline in overseas purchases of safflower seed, when their volume decreased by X% to X tons. Over the period under review, imports, however, saw significant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell notably in the following year.

In value terms, safflower seed imports reduced markedly to $X in 2022. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of safflower seed to Bulgaria, accounting for a X% share of total imports. Moreover, safflower seed imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at X%.

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

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at X%.

Import Prices by Country

The average safflower seed import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Russia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%).

Source: IndexBox Platform

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