Spices; Turmeric (Curcuma) Price in Bulgaria - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Bulgaria (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Bulgaria (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Bulgaria
- Spices; Turmeric (Curcuma) Exports in Bulgaria
Spices; Turmeric (Curcuma) Price in Bulgaria (CIF) - 2022
In 2021, the average spices; turmeric (curcuma) import price amounted to $2,694 per ton, surging by 15% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spices; turmeric (curcuma) import price decreased by -2.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 77%. As a result, import price reached the peak level of $2,749 per ton; afterwards, it flattened through to 2021.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($14,244 per ton), while the price for India ($1,430 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Bulgaria (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $4,419 per ton in 2021, surging by 23% against the previous year. Overall, the export price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 727% against the previous year. As a result, the export price attained the peak level of $21,890 per ton. From 2018 to 2021, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($14,183 per ton), while the average price for exports to Cyprus ($1,800 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 the UK (+41.4%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Bulgaria
In 2022, the amount of spices; turmeric (curcuma) imported into Bulgaria soared to 119 tons, picking up by 43% against the year before. The total import volume increased at an average annual rate of +3.6% from 2019 to 2022; however, 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.
In value terms, spices; turmeric (curcuma) imports soared to $294K in 2022. The total import value increased at an average annual rate of +7.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Turmeric (Curcuma) in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 116 | 119 | 96.7 | -8.7% | |
| Netherlands | 19.5 | 75.0 | 74.6 | 95.6% | |
| Spain | 22.0 | 2.7 | 15.0 | -17.4% | |
| Germany | 3.4 | 5.4 | 13.9 | 102.2% | |
| United Kingdom | 6.8 | 15.5 | 2.6 | -38.2% | |
| Others | 67.2 | 34.9 | 21.5 | -43.4% | |
| Total | 235 | 252 | 224 | -2.4% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Bulgaria in 2022:
- India (67.7 tons)
- Netherlands (5.2 tons)
- Germany (4.7 tons)
- Spain (3.3 tons)
- United Kingdom (0.8 tons)
Spices; Turmeric (Curcuma) Exports in Bulgaria
In 2022, approx. 26 tons of spices; turmeric (curcuma) were exported from Bulgaria; growing by 29% on the previous year. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +16.6% 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 +58.5% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 45% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; turmeric (curcuma) exports surged to $116K in 2022. The total export value increased at an average annual rate of +5.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Turmeric (Curcuma) in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| North Macedonia | 11.3 | 21.0 | 18.8 | 29.0% | |
| United Kingdom | 1.4 | 8.0 | 10.8 | 177.7% | |
| Greece | 9.3 | 19.0 | 8.9 | -2.2% | |
| Germany | 11.0 | 5.6 | 6.4 | -23.7% | |
| Cyprus | 4.3 | 1.3 | 5.6 | 14.1% | |
| Ukraine | 1.9 | 4.1 | 5.2 | 65.4% | |
| Denmark | 3.3 | 3.0 | 4.9 | 21.9% | |
| Ireland | N/A | N/A | 4.3 | 0% | |
| Italy | 1.8 | 3.4 | 4.0 | 49.1% | |
| United States | N/A | N/A | 3.5 | 0% | |
| Romania | 1.2 | 4.4 | 2.0 | 29.1% | |
| Slovenia | N/A | 0.7 | 1.5 | 114.3% | |
| France | 40.3 | N/A | N/A | 0% | |
| Others | 11.6 | 15.0 | 13.6 | 8.3% | |
| Total | 97.4 | 85.4 | 89.5 | -4.1% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Bulgaria in 2022:
- North Macedonia (5.3 tons)
- Greece (3.9 tons)
- Cyprus (3.1 tons)
- Italy (2.2 tons)
- United States (1.0 tons)
- Germany (0.9 tons)
- United Kingdom (0.8 tons)
- Ukraine (0.4 tons)
- Romania (0.4 tons)
- Ireland (0.4 tons)
- Denmark (0.3 tons)
- Slovenia (0.3 tons)
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