Bulgaria: Grain and Feed Market Update

  |   Attaché Report (GAIN)   |   BU2023-0008

Bulgaria harvested a 26 percent lower grain crop in marketing year (MY) 2022/23 compared to MY2021/22, including reductions of 12 percent for wheat, 11 percent for barley, and 26 percent for corn. The decrease was due mainly to unfavorable weather (summer drought) causing a decline in yields. Exports have been depressed due to tight Black Sea competition and farmers holding stocks in expectation for higher prices. As of the end of January, the country has exported 46 percent less wheat, 76 percent less barley, and 81 percent less corn. Post projects record high ending stocks for wheat and barley and potential logistical challenges by harvest time. Current early forecast for MY2023/24 is for higher grain production if the weather remains favorable and depleted soil moisture reserves are recovered in the spring.

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