The record pace of wheat exports from Bulgaria is slowing down

Data from our LINEUP show a drastic drop in wheat exports from Bulgaria at the beginning of the calendar year. Exports in January were the weakest for the last 6 years and twice less than the average for this month with only 0.1Mt. The volumes in February, however, are within the normal range, with which the total export from the beginning of the season to date reaches 4.4 Mt. This is more than 2 times more than the exported quantities for the same period a year ago and remains a record. Compared to the average for the last 5 years, the export is 47% more, and the closest we exported to the current volumes was in the 2019/20 season, when 4 Mt were reported for the period July-February. Statistics show that, on average, during the remaining 4 months until the end of the season, we export about 1.3 Mt of wheat, and for the last 2 seasons we exported 1.8 Mt each. This would mean that we can expect exports to exceed 6Mt by the end of the season, but according to our balance sheets ...