Bulgaria: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Bulgaria

In 2022, after two years of growth, there was significant decline in the Bulgarian soybean oilcake market, when its value decreased by X% to $X. Over the period under review, consumption showed a noticeable shrinkage. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Soybean Oilcake Production in Bulgaria

In value terms, soybean oilcake production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X%. Soybean oilcake production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Soybean Oilcake Exports

Exports from Bulgaria

In 2022, overseas shipments of soybean oilcake decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a precipitous setback. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, soybean oilcake exports contracted notably to $X in 2022. Over the period under review, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at X%.

In value terms, Greece ($X) remains the key foreign market for soybean oilcake exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by North Macedonia ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average soybean oilcake export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 North Macedonia ($X per ton), while the average price for exports to Greece amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Soybean Oilcake Imports

Imports into Bulgaria

In 2022, approx. X tons of soybean oilcake were imported into Bulgaria; dropping by X% on the previous year. In general, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, soybean oilcake imports dropped slightly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of soybean oilcake to Bulgaria, with a X% share of total imports. Moreover, soybean oilcake imports from Romania exceeded the figures recorded by the second-largest supplier, Greece (X tons), sixfold.

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

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

From 2012 to 2022, the average annual growth rate of value from Romania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Serbia (X% per year).

Import Prices by Country

In 2022, the average soybean oilcake import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price recorded a modest expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, 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 Serbia ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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