Contrary to the general trend, 2023 sunflower area in Bulgaria declined, though not impessive

Bulgarian farmers have been more favourable to planting other crops than sunflowers, although the reduction in SFS acreage in 2023 is not impressive.

UkrAgroConsult considers the SFS stocks increase to be a key factor in Bulgarian farmers decision. It is likely the Bulgarian crushing industry prefers to use imported SFS, mainly from Ukraine and Romania, while sales of locally grown SFS have declined. This contributed to the growth of farmers’ SFS stocks.  High SFS stocks could put pressure on farmers’ margins, forcing them to consider alternative crops.

Bulgaria. Trends started in early 2022/23.

• decrease in sunflower exports (-2.2% yoy)
• growing SFS imports, mainly from Ukraine (+28%)
• expansion of the domestic crusing and exports of sunflower oil (+59% season by season)..

Ukraine’s share in SFS deliveries exceeds 66%, with Romania being the second largest SFS supplier – 22% of total imports.

Key SFS export destinations

• EU countries (+12% y-o-y),
• China (+69%),
• Turkey (+70%),
• USA (-26%).

After the ban on SFS imports from Ukraine, Bulgarian crushers switched to imports from Romania, not touching their own stocks in anticipation of Sunflower oil rising prices.

Exports of sunflower oil was record high of 433 K mt (+59% season by season).

Imports of sunflower oil also rose to a record, with about 68% coming from Ukraine, amounting to almost 228 K  mt, compared to 43.7 K mt season by season.

The 2023/24 season forecast

– for May 1-20 in Bulgaria the temperatures were significantly below average, which led to late sowing and delayed spring crops development, incl. SFS,

– temperature was more friendly to the crops vegatation for May 21-June 15,

– by late June, delay in the crops development is seen only in the northern region of Bulgaria,

– the current SFS production forecast remains fairly optimistic, with the SFS yield determined by moisture availability at the SFS maturity stage.