Price for Protein; Concentrates and Textured Protein Substances in Bulgaria - 2023

Contents:

1. Price for Protein; Concentrates and Textured Protein Substances in Bulgaria (CIF) - 2023
2. Price for Protein; Concentrates and Textured Protein Substances in Bulgaria (FOB) - 2022
3. Imports of Protein; Concentrates and Textured Protein Substances in Bulgaria
4. Exports of Protein; Concentrates and Textured Protein Substances in Bulgaria

Price for Protein; Concentrates and Textured Protein Substances in Bulgaria (CIF) - 2023

In September 2023, the average import price for protein; concentrates and textured protein substanceses amounted to $3,471 per ton, jumping by 26% against the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 31% m-o-m. The import price peaked at $3,711 per ton in January 2023; however, from February 2023 to September 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Switzerland ($4,631 per ton), while the price for Serbia ($1,455 per ton) was amongst the lowest.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Serbia (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Protein; Concentrates and Textured Protein Substances in Bulgaria (FOB) - 2022

In 2022, the average export price for protein; concentrates and textured protein substanceses amounted to $5,157 per ton, reducing by -10.4% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2017 an increase of 61%. Over the period under review, the average export prices attained the maximum at $11,416 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($21,372 per ton), while the average price for exports to Hungary ($2,154 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 Poland (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein; Concentrates and Textured Protein Substances in Bulgaria

In 2022, the amount of protein; concentrates and textured protein substanceses imported into Bulgaria reduced markedly to 5K tons, which is down by -34.8% against the previous year. Overall, imports recorded a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of 7.7K tons, and then contracted remarkably in the following year.

In value terms, imports of protein; concentrates and textured protein substanceses shrank notably to $15M in 2022. The total import value increased at an average annual rate of +3.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 36%. As a result, imports attained the peak of $18M, and then shrank dramatically in the following year.

Top Suppliers of Protein; Concentrates and Textured Protein Substances to Bulgaria in 2022:

1. Hungary (1932.4 tons)
2. Serbia (1632.4 tons)
3. Poland (293.8 tons)
4. China (281.7 tons)
5. United States (202.8 tons)
6. Romania (160.1 tons)
7. Slovakia (100.8 tons)
8. Germany (68.3 tons)
9. Greece (39.1 tons)
10. Italy (14.2 tons)

Exports of Protein; Concentrates and Textured Protein Substances in Bulgaria

In 2022, approx. 2.4K tons of protein; concentrates and textured protein substanceses were exported from Bulgaria; surging by 45% on the previous year. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 217%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of protein; concentrates and textured protein substanceses soared to $12M in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 94% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the immediate term.

Top Export Markets for Protein; Concentrates and Textured Protein Substances from Bulgaria in 2022:

1. United States (1195.6 tons)
2. Germany (373.4 tons)
3. Serbia (116.3 tons)
4. Poland (100.7 tons)
5. Greece (92.6 tons)
6. Romania (90.3 tons)
7. France (80.5 tons)
8. Belgium (73.6 tons)
9. North Macedonia (61.2 tons)
10. Czech Republic (19.4 tons)
11. Hungary (2.1 tons)

Source: IndexBox Market Intelligence Platform