Updated Jan 1, 2023 23:46

Fig Market in Romania

Market Overview
In , the Romanian fig market decreased by -% to $ for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed a perceptible increase. Fig consumption peaked at $ in , and then dropped in the following year.


Consumption
In , consumption of figs decreased by -% to tons for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a moderate expansion from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption hit record highs at tons in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.

The value of the fig market in Romania reduced to $ in , falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed measured growth. Over the period under review, the market reached the peak level at $ in , and then contracted in the following year.


Market Forecast
Driven by increasing demand for fig in Romania, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Fig market in Romania consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Romania remains a net importer of fig; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.