Price for Cereals; Maize (Corn), Seed in Bulgaria - 2023
Contents:
- Price for Cereals; Maize (Corn), Seed in Bulgaria (CIF) - 2022
- Price for Cereals; Maize (Corn), Seed in Bulgaria (FOB) - 2023
- Imports of Cereals; Maize (Corn), Seed in Bulgaria
- Exports of Cereals; Maize (Corn), Seed in Bulgaria
Price for Cereals; Maize (Corn), Seed in Bulgaria (CIF) - 2022
The average cereals; maize (corn), seed import price stood at $4,301 per ton in 2022, surging by 8.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2013 when the average import price increased by 19%. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($4,945 per ton) and Romania ($4,505 per ton), while the price for Serbia ($3,308 per ton) and France ($3,610 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Seed in Bulgaria (FOB) - 2023
The average cereals; maize (corn), seed export price stood at $2,587 per ton in July 2023, shrinking by -27.2% against the previous month. Over the period under review, the export price showed a perceptible setback. The growth pace was the most rapid in April 2023 an increase of 133% m-o-m. The export price peaked at $7,358 per ton in September 2022; however, from October 2022 to July 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was Hungary ($6,000 per ton), while the average price for exports to Greece ($236 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Maize (Corn), Seed in Bulgaria
In 2022, the amount of cereals; maize (corn), seeds imported into Bulgaria expanded significantly to 14K tons, picking up by 9.7% compared with the previous year. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, cereals; maize (corn), seed imports skyrocketed to $62M in 2022. The total import value increased at an average annual rate of +11.0% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Cereals; Maize (Corn), Seed in Bulgaria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 25.1 | 28.1 | 24.8 | 39.0 | 15.8% |
| Hungary | 9.4 | 8.5 | 12.3 | 11.1 | 5.7% |
| France | 6.1 | 10.4 | 11.3 | 7.0 | 4.7% |
| Austria | 1.3 | 1.5 | 0.7 | 1.5 | 4.9% |
| Serbia | 2.2 | 0.2 | 1.4 | 1.3 | -16.1% |
| Italy | 0.9 | 2.1 | 1.8 | 1.1 | 6.9% |
| Others | 0.5 | 0.3 | 0.1 | 1.3 | 37.5% |
| Total | 45.5 | 51.0 | 52.4 | 62.3 | 11.0% |
Top Suppliers of Cereals; Maize (Corn), Seed to Bulgaria in 2022:
- Romania (8.7K tons)
- Hungary (2.5K tons)
- France (1.9K tons)
- Serbia (0.4K tons)
- Austria (0.4K tons)
- Italy (0.2K tons)
Exports of Cereals; Maize (Corn), Seed in Bulgaria
For the fourth year in a row, Bulgaria recorded growth in overseas shipments of cereals; maize (corn), seeds, which increased by 18% to 2.1K tons in 2022. In general, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +22.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, cereals; maize (corn), seed exports soared to $6.8M in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +12.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 33%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.
| Export of Cereals; Maize (Corn), Seed in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 4,092 | 3,230 | 2,934 | 4,916 | 6.3% |
| Hungary | 74.3 | 11.4 | 787 | 882 | 128.1% |
| Greece | 250 | 285 | 821 | 658 | 38.1% |
| North Macedonia | 85.0 | 90.0 | 117 | 119 | 11.9% |
| France | 131 | 186 | 219 | 101 | -8.3% |
| Germany | N/A | N/A | N/A | 72.3 | 0% |
| Croatia | N/A | 346 | 385 | N/A | 11.3% |
| United Arab Emirates | N/A | 112 | 25.5 | N/A | -77.2% |
| Others | 119 | 101 | 502 | 63.9 | -18.7% |
| Total | 4,751 | 4,361 | 5,790 | 6,812 | 12.8% |
Top Export Markets for Cereals; Maize (Corn), Seed from Bulgaria in 2022:
- Romania (1416.8 tons)
- Hungary (269.6 tons)
- Greece (258.3 tons)
- Germany (40.4 tons)
- France (36.3 tons)
- North Macedonia (34.2 tons)
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