Agriculture sector plays a crucial role in the Bulgarian economy. Agriculture includes hunting, forestry, and fishing, as well as cultivation of crops and livestock production. The agriculture sector has the potential to be a vital source of foreign exchange earnings and can also produce huge amount of quality food for domestic population. Most significant advantage of this sector is the presence of well-established food research & development institutions.
Bulgaria enjoys tremendous natural conditions to develop the agriculture & forestry sector. The availability of agricultural land, favorable climate for crop production and long traditions have resulted in well-developed plant growing as well as animal breeding. Other advantages include low labor costs and high-schools & colleges offering training in the modern farming & animal breeding. The main crops produced in the country include tobacco, pepper, grapes, wheat, tomatoes, maize, beans, sunflower, peaches, potato, apricots, melons, apples, and nuts. There are traditions in the pig, sheep, and cattle breeding, bee-keeping and poultry farming. Traditionally, country holds leading position in exports of grapes, tomatoes, apricots, oriental tobacco, and other agricultural products to European markets.
According to study, “Bulgaria Agriculture Market Trends, Statistics, Growth, and Forecasts” key players of Bulgaria agriculture market are implementing various policies to make the Bulgaria well placed to improve efficiency & competitiveness of its agro-food sector. Bulgaria agriculture provides very strong conditions for investment, in the vegetable-growing (greenhouses) and meat industries that heavily depend on capital. Internal conditions are low costs to production factors and favorably attributed to the resource availability; while reliable local & external market demand should undertaking further stability, policy consistency as well as support for different initiatives.
The Bulgaria Agriculture Market is driven by traditions in agriculture, followed by low operational costs, widely available workforce availability, increase in output of domestic products resulting from rising foreign direct investment (FDI) in the agricultural sector, growth in wine production and good transportation infrastructure. Imported wines have a steady presence in the Bulgarian market owing to a robust & mature distribution system, improving end-user income, active promotions, and augmented tourism. The imported wines compete well against the local wine products. However, future challenges to the Bulgarian agriculture are related to achieve a sustainable & vibrant development of the food chain, mainly in the terms of increasing the value added. It can be attained by focusing on fruit & vegetables and livestock. Value chain is characterized by shortage of locally produced primary raw materials for the meat & dairy processing chains or canning industry; weaknesses are noted in inadequate production efficiency owing to high fixed costs & underuse of technological capacity. Moreover, creation of total production chains by a combination of selected companies in the clusters covering primary sector, processing, sales & distribution is a key opportunity for market.
Bulgarian agriculture is one of the most recent investment sectors in the Bulgaria. It is projected that Bulgaria Agriculture market will be reached at rapid pace caused by growth in good irrigation infrastructure during the forecast period.
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Ankur Gupta, Head Marketing & Communications