Serbia: Grain Market 2024

Grain Market Size in Serbia

The Serbian grain market surged to $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Grain Production in Serbia

In value terms, grain production rose modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Grain production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

In 2022, the average yield of cereal grains in Serbia expanded remarkably to X tons per ha, with an increase of X% against the year before. In general, the yield indicated a buoyant increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain yield decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the yield increased by X%. Over the period under review, the average grain yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the 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 cereal grains were harvested in Serbia; almost unchanged from the previous year's figure. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha; afterwards, it flattened through to 2022.

Grain Exports

Exports from Serbia

In 2022, shipments abroad of cereal grains decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports continue to indicate a mild decline. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, grain exports shrank dramatically to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Romania (X tons), Italy (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of grain exports from Serbia, with a combined X% share of total exports. North Macedonia, Hungary, Austria, Albania and Montenegro lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Italy ($X) and Bosnia and Herzegovina ($X) constituted the largest markets for grain exported from Serbia worldwide, with a combined X% share of total exports. Hungary, North Macedonia, Austria, Albania and Montenegro lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Austria, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average grain export price stood at $X per ton in 2022, growing by X% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Hungary ($X per ton) and Austria ($X per ton), while the average price for exports to Italy ($X per ton) and Romania ($X per ton) were amongst the lowest.

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

Grain Imports

Imports into Serbia

In 2022, the amount of cereal grains imported into Serbia surged to X tons, rising by X% on the year before. Over the period under review, imports posted a modest expansion. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, grain imports skyrocketed to $X in 2022. In general, imports enjoyed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Croatia (X tons) constituted the largest supplier of grain to Serbia, with a X% share of total imports. Moreover, grain imports from Croatia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. Russia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Croatia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Russia (X% per year).

In value terms, the largest grain suppliers to Serbia were France ($X), Hungary ($X) and Romania ($X), with a combined X% share of total imports. Turkey, Italy, Croatia, Russia, Austria, Ukraine, Bosnia and Herzegovina and the Czech Republic lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average grain import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform