Bulgaria: Oilseeds and Products Market Update

  |   Attaché Report (GAIN)   |   BU2022-0019

In MY 2022/23 Bulgaria expects to harvest a sunflower crop of 2-2.1 million metric tons (MMT), on par with the previous season. Despite optimistic expectations early in the season based on higher area planted and favorable weather, average yields have been affected by the summer drought and heat, along with higher pest infestation. Following the Russian invasion in Ukraine, Bulgaria imported a record volume of sunflower seed from Ukraine, which was used for crush and dehulling. This made the country a top exporter of processed products in the EU, but also led to farm protests due to the market price pressure. The Cabinet supported farmers’ position and expressed concerns about growing price-competitive imports. Currently, farmers are holding oilseed stocks due to softening prices, with expectations for better offers from traders in months to come. Due to increased production costs, producers may decrease area planted under rapeseed and/or reduce input use in MY 2023/24, putting future yields into question.

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