Bulgaria: Sunflower Seed Market 2023

Sunflower Seed Market Size in Bulgaria

In 2021, after five years of growth, there was significant decline in the Bulgarian sunflower seed market, when its value decreased by -16.7% to $X. Overall, consumption, however, continues to indicate prominent growth. Sunflower seed consumption peaked at $X in 2020, and then dropped remarkably in the following year.

Sunflower Seed Production in Bulgaria

In value terms, sunflower seed production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 33% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

The average yield of sunflower seed in Bulgaria rose remarkably to X tons per ha in 2021, surging by 6.3% against the year before. The yield figure increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Over the period under review, the average sunflower seed yield reached the peak level at X tons per ha in 2018; however, from 2019 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of sunflower seed production in Bulgaria contracted slightly to X ha, standing approx. at the previous year. In general, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the harvested area increased by 13% against the previous year. The sunflower seed harvested area peaked at X ha in 2017; however, from 2018 to 2021, the harvested area failed to regain momentum.

Sunflower Seed Exports

Exports from Bulgaria

Sunflower seed exports from Bulgaria dropped to X tons in 2021, declining by -7% against the previous year's figure. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 56%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, sunflower seed exports surged to $X in 2021. Overall, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.5% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 46%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of sunflower seed exports from Bulgaria, with a combined 41% share of total exports. Romania, the UK, the United States, Spain, Poland, China, Austria, France, Belgium and Sweden lagged somewhat behind, together comprising a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +131.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and the United States ($X) were the largest markets for sunflower seed exported from Bulgaria worldwide, with a combined 37% share of total exports. The UK, the Netherlands, Romania, Poland, China, Spain, Austria, France, Sweden and Belgium lagged somewhat behind, together accounting for a further 49%.

In terms of the main countries of destination, China, with a CAGR of +122.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sunflower seed export price stood at $X per ton in 2021, jumping by 44% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower seed export price increased by +68.0% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Seed Imports

Imports into Bulgaria

After nine years of growth, supplies from abroad of sunflower seed decreased by -42.4% to X tons in 2021. Over the period under review, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 186% against the previous year. Imports peaked at X tons in 2020, and then contracted remarkably in the following year.

In value terms, sunflower seed imports dropped dramatically to $X in 2021. Overall, imports, however, posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 84%. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

In 2021, Romania (X tons) constituted the largest sunflower seed supplier to Bulgaria, accounting for a 81% share of total imports. Moreover, sunflower seed imports from Romania exceeded the figures recorded by the second-largest supplier, Moldova (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Romania amounted to +62.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+46.9% per year) and Ukraine (+42.5% per year).

In value terms, Romania ($X) constituted the largest supplier of sunflower seed to Bulgaria, comprising 64% of total imports. The second position in the ranking was taken by Moldova ($X), with a 6.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Romania amounted to +42.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+31.7% per year) and Ukraine (+31.0% per year).

Import Prices by Country

The average sunflower seed import price stood at $X per ton in 2021, jumping by 33% against the previous year. In general, the import price, however, faced a abrupt slump. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Moldova ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (-8.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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