Serbia: Beet-Pulp And Bagasse Market 2024

Beet-Pulp And Bagasse Market Size in Serbia

The Serbian beet-pulp and bagasse market declined modestly to $X in 2022, waning by -2.1% against the previous year. In general, consumption showed a pronounced descent. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Beet-Pulp And Bagasse Production in Serbia

In value terms, beet-pulp and bagasse production dropped to $X in 2022 estimated in export price. In general, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 42%. Beet-pulp and bagasse production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Beet-Pulp And Bagasse Exports

Exports from Serbia

In 2022, approx. X tons of beet-pulp and bagasse were exported from Serbia; falling by -4.4% against the previous year. Over the period under review, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 69% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, beet-pulp and bagasse exports surged to $X in 2022. In general, exports continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 86% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for beet-pulp and bagasse exports from Serbia, with a 61% share of total exports. Moreover, beet-pulp and bagasse exports to Italy exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by Bosnia and Herzegovina (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+51.7% per year) and Bosnia and Herzegovina (-6.9% per year).

In value terms, Italy ($X) remains the key foreign market for beet-pulp and bagasse exports from Serbia, comprising 62% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by Bosnia and Herzegovina, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+38.2% per year) and Bosnia and Herzegovina (-4.6% per year).

Export Prices by Country

In 2022, the average beet-pulp and bagasse export price amounted to $X per ton, jumping by 35% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beet-pulp and bagasse export price increased by +47.0% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Hungary ($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 Italy (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Beet-Pulp And Bagasse Imports

Imports into Serbia

In 2022, approx. X tons of beet-pulp and bagasse were imported into Serbia; growing by 46% compared with the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 529%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, beet-pulp and bagasse imports dropped to $X in 2022. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 726%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Greece (X tons), Hungary (X tons) and Sweden (X kg) were the main suppliers of beet-pulp and bagasse imports to Serbia, together comprising 67% of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of -9.6%), while purchases for the other leaders experienced a decline.

In value terms, Greece ($X), Hungary ($X) and Sweden ($X) constituted the largest beet-pulp and bagasse suppliers to Serbia, together comprising 64% of total imports.

Greece, with a CAGR of +30.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average beet-pulp and bagasse import price stood at $X per ton in 2022, with a decrease of -37.4% against the previous year. In general, the import price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of 132%. As a result, import price attained the peak level of $X per ton, and then shrank remarkably in the following year.

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 Sweden ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+44.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform