Serbia: Apricot Market 2024

Apricot Market Size in Serbia

In 2022, the Serbian apricot market decreased by -13.4% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Apricot consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Apricot Production in Serbia

In value terms, apricot production stood at $X in 2022 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

In 2022, the average apricot yield in Serbia contracted slightly to X tons per ha, approximately mirroring 2021 figures. Overall, the yield indicated a mild increase from 2012 to 2022: its figure increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, apricot yield increased by +18.8% against 2018 indices. The growth pace was the most rapid in 2017 when the yield increased by 60%. As a result, the yield attained the peak level of X tons per ha. From 2018 to 2022, the growth of the average apricot yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of apricots were harvested in Serbia; approximately equating 2021. The harvested area increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 5.8% against the previous year. The apricot harvested area peaked at X ha in 2021, and then contracted slightly in the following year.

Apricot Exports

Exports from Serbia

In 2022, exports of apricots from Serbia skyrocketed to X tons, with an increase of 158% compared with 2021. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 353%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, apricot exports skyrocketed to $X in 2022. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 333% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X tons), Austria (X tons) and Romania (X tons) were the main destinations of apricot exports from Serbia, together comprising 57% of total exports. Poland, Croatia, Montenegro, Russia, the Czech Republic, Slovakia and Switzerland lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +159.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for apricot exported from Serbia were Romania ($X), Bosnia and Herzegovina ($X) and Poland ($X), together comprising 48% of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +146.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average apricot export price amounted to $X per ton, waning by -37.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 70%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Apricot Imports

Imports into Serbia

In 2022, the amount of apricots imported into Serbia shrank dramatically to X tons, reducing by -48.7% compared with 2021 figures. Over the period under review, imports, however, enjoyed a moderate increase. The pace of growth appeared the most rapid in 2014 when imports increased by 181% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, apricot imports declined dramatically to $X in 2022. In general, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 177% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of apricot to Serbia, accounting for a 49% share of total imports. Moreover, apricot imports from Greece exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Greece stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-9.8% per year) and Spain (+47.4% per year).

In value terms, the largest apricot suppliers to Serbia were Greece ($X), Italy ($X) and Spain ($X), with a combined 89% share of total imports. North Macedonia, South Africa and Albania lagged somewhat behind, together accounting for a further 11%.

North Macedonia, with a CAGR of +70.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average apricot import price stood at $X per ton in 2022, rising by 1.7% against the previous year. In general, the import price showed a buoyant increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 44%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Albania (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform