Serbia: Buckwheat Market 2025

Buckwheat Market Size in Serbia

In 2022, after three years of growth, there was significant decline in the Serbian buckwheat market, when its value decreased by -36.2% to $X. Over the period under review, consumption, however, posted a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped markedly in the following year.

Buckwheat Exports

Exports from Serbia

In 2022, the amount of buckwheat exported from Serbia declined rapidly to X tons, falling by -62.7% on the previous year. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 563% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced notably in the following year.

In value terms, buckwheat exports fell dramatically to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 369% against the previous year. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for buckwheat exports from Serbia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina totaled +83.3%.

In value terms, Bosnia and Herzegovina ($X) also remains the key foreign market for buckwheat exports from Serbia.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina totaled +72.9%.

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2022, growing by 24% against the previous year. In general, the export price, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2020 an increase of 49%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Bosnia and Herzegovina.

From 2012 to 2022, the rate of growth in terms of prices for Bosnia and Herzegovina amounted to -5.7% per year.

Buckwheat Imports

Imports into Serbia

In 2022, imports of buckwheat into Serbia fell notably to X tons, which is down by -47.9% on the previous year's figure. In general, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 93%. Imports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, buckwheat imports contracted remarkably to $X in 2022. Over the period under review, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of 91%. As a result, imports attained the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest buckwheat supplier to Serbia, with a 80% share of total imports. Moreover, buckwheat imports from Russia exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), sevenfold. The third position in this ranking was taken by Bosnia and Herzegovina (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled +33.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (0.0% per year) and Bosnia and Herzegovina (-4.0% per year).

In value terms, Russia ($X) constituted the largest supplier of buckwheat to Serbia, comprising 76% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 13% share of total imports. It was followed by Bosnia and Herzegovina, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to +44.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (0.0% per year) and Bosnia and Herzegovina (+0.9% per year).

Import Prices by Country

The average buckwheat import price stood at $X per ton in 2022, picking up by 18% against the previous year. Overall, the import price saw a measured expansion. The pace of growth appeared the most rapid in 2020 an increase of 40%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Bosnia and Herzegovina ($X per ton) and Kazakhstan ($X per ton), while the price for Poland ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform