Bulgaria in the 2026/27: Stocks pressure, rising costs and export competition

Early March events made Bulgarian farmers rethink their production strategies for the 2026/27. Current expectations suggest Bulgaria’s total 2026 grain crop may decline by around 9% to 8.5 M mt. Several critically important long term and seasonal factors are driving these expectations, like shifting planting terms, rising input costs and weaker export competitiveness in global grain markets.

Trends of the Bulgarian markets mirrors a broader development across the Black Sea-Danube-Balkan region.

Production decisions are increasingly influenced not only by weather but also by input costs and processing demand for oilseeds.

Wheat. Winter weather supported good crop survival, but the spring period will determine final yield potential. Rapid increases in fuel and fertilizer prices triggered by geopolitical tensions around Iran are forcing farmers to reconsider spring field treatments. Any reduction in fertilizer application or crop protection could lower yields.

Another central issue is export competitiveness. Bulgarian 2025/26 wheat exports are lagging due to strong global competition, particularly from major suppliers. This will likely result in higher carryover stocks of the new 2026/27 season.

Barley. In Bulgaria, barley remains a crop of “fast cash flow”. Farmers rely on early summer exports to generate liquidity for autumn planting. During the 2025/26 season barley partially replaced corn in animal feed rations. However, persistently low barley prices over recent seasons discourage significant expansion of planting area.

Bulgarian barley exports continue to struggle against French barley, which remains highly competitive in global feed markets.

Corn. Winter precipitation created favorable soil moisture for corn planting in most regions. However, the cost structure of corn production is deteriorating rapidly.

The escalation of tensions around Iran pushed fuel prices higher, making corn production increasingly expensive. At the same time strong demand for sunflower seeds from domestic crushing plants is encouraging farmers to shift acreage away from corn.