Bulgaria: Oilseeds and Products Market Update
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Bulgarian production of oilseed crops in marketing year (MY)2022/23 was at the same level as in MY2021/22 at 2.4 million metric tons (MMT), from 8 percent higher area harvested due to lower yields impacted by the summer heat and drought. The rapeseed crop was 20 percent lower while the sunflower production grew by about 4 percent compared to the previous season. The country became the top European Union (EU) importer of price-competitive sunflower seeds from Ukraine with a 40 percent share in total EU imports and also increased its crush. Bulgaria currently leads with 66 percent of total EU exports of sunflower meal and 47 percent of EU exports of sunflower oil. Farmers, however, have expressed deep concerns that the imported sunflower is depressing local prices. Post’s early forecast for MY2023/24 is for higher oilseeds production if the weather cooperates and depleted soil moisture reserves are recovered in the spring.