Bulgaria: Tea Market Overview 2020

Tea Market Size in Bulgaria

The revenue of the tea market in Bulgaria amounted to $X in 2018, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, tea consumption continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 when the market value increased by X% year-to-year. Tea consumption peaked in 2018 and is likely to continue its growth in the near future.

Tea Exports

Exports from Bulgaria

In 2018, approx. X tonnes of tea were exported from Bulgaria; coming down by -X% against the previous year. In general, tea exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. In that year, tea exports attained their peak of X tonnes, and then declined slightly in the following year.

In value terms, tea exports amounted to $X in 2018. In general, tea exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, tea exports reached their maximum at $X in 2014; however, from 2015 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Greece (X tonnes), Austria (X tonnes) and Turkey (X tonnes) were the main destinations of tea exports from Bulgaria, together accounting for X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Turkey (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X) remains the key foreign market for tea exports from Bulgaria, comprising X% of total tea exports. The second position in the ranking was occupied by Denmark ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to Greece totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+X% per year) and the Netherlands (+X% per year).

Export Prices by Country

The average tea export price stood at $X per tonne in 2018, surging by X% against the previous year. Overall, the tea export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices for tea reached their maximum at $X per tonne in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the Netherlands ($X per tonne), while the average price for exports to Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Greece, while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into Bulgaria

In 2018, the imports of tea into Bulgaria totaled X tonnes, increasing by X% against the previous year. Overall, tea imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by X% year-to-year. Over the period under review, tea imports attained their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, tea imports stood at $X in 2018. Overall, tea imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% y-o-y. Imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, China (X tonnes) constituted the largest supplier of tea to Bulgaria, with a X% share of total imports. Moreover, tea imports from China exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tonnes), threefold. Italy (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+X% per year) and Italy (+X% per year).

In value terms, China ($X) constituted the largest supplier of tea to Bulgaria, comprising X% of total tea imports. The second position in the ranking was occupied by Sri Lanka ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+X% per year) and Italy (+X% per year).

Import Prices by Country

The average tea import price stood at $X per tonne in 2018, going down by -X% against the previous year. In general, the tea import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2012 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2013; however, from 2014 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Germany ($X per tonne), while the price for Malawi ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Malawi, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform