Located in Southeastern Europe, Bulgaria is bordered by Romania to the north, Serbia and the Republic of Macedonia to the west, Greece and Turkey to the south and the Black Sea to the East. With a territory of 110,994 square kilometres, Bulgaria ranks as Europe’s 15th-largest country. It has huge agricultural potential thanks to its fertile soil, temperate climate and its key geographical position, with crucial access to the Black Sea and the key markets in the European Union, Commonwealth of Independent States (former Soviet Republics), the Middle East and Asia. The rural regions in Bulgaria occupy 84% of the nation’s total land area while the 2.7 million people living in rural areas account for 32.3% of its total population.
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Bulgaria joined NATO in 2004 and the European Union in 2007, after the country moved from central planning to a more market-driven system with free movement of capital and the liberalisation of agricultural markets. Bulgaria enjoys both political and economic stability, and the decentralised government is very accommodating to overseas investors. In 2007, the Bulgarian government launched a five-year, €3.2 billion modernisation and development program, aimed at strengthening the agricultural sector.
The country is blessed with rich farming and forestry resources. The extremely fertile soil (containing a moderate PH) and temperate climate, particularly around the Black Sea, provide exceptional, high yielding, top quality crops, and make Bulgaria an ideal producer of the most in-demand and lucrative fruit: sweet cherries. The hot season arrives at just the right time for cherry
production and the humidity also makes for perfect growing conditions. The season very rarely suffers from frost or other major weather hazards. If properly handled, crops will suffer a very low production loss of 5 to 10%. Cherries are a fruit that travels well, and once refrigerated, taste and flavour do not deteriorate easily.
production and the humidity also makes for perfect growing conditions. The season very rarely suffers from frost or other major weather hazards. If properly handled, crops will suffer a very low production loss of 5 to 10%. Cherries are a fruit that travels well, and once refrigerated, taste and flavour do not deteriorate easily.
Although it is one of the newest sources of land for cherry production, neighbouring Turkey is already one of the world’s leading producers. Bulgaria is widely recognised as the country with the highest potential for growth as a cherry producer.
The price for farmland and labour costs in Bulgaria are also considerably lower than the rest of Europe, with farmers of the same skill set earning an average of €200 in Bulgaria, compared with €1,000 in Western European countries. The operating expenses are also considerably lower than orchards based in other European countries. As a result, the return on investment is much higher in a Bulgarian-run orchard.
Bulgaria also boasts an exceptional corporate environment. Historically, Bulgarian farmland investment has achieved returns that outperform most traditional investment assets.
