Serbia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Serbia

The Serbian cheese and curd market dropped to $X in 2022, which is down by -11.4% against the previous year. Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +3.9% against 2020 indices. Cheese and curd consumption peaked at $X in 2021, and then fell in the following year.

Cheese And Curd Production in Serbia

In value terms, cheese and curd production dropped rapidly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 51% against the previous year. Over the period under review, production reached the maximum level at $X in 2021, and then contracted dramatically in the following year.

Cheese And Curd Exports

Exports from Serbia

In 2022, cheese and curd exports from Serbia dropped to X tons, falling by -6.6% on 2021. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.2% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 31%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cheese and curd exports rose slightly to $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.8% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 32% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Russia (X tons) was the main destination for cheese and curd exports from Serbia, with a 55% share of total exports. Moreover, cheese and curd exports to Russia exceeded the volume sent to the second major destination, North Macedonia (X tons), fivefold. Montenegro (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+8.6% per year) and Montenegro (-1.1% per year).

In value terms, Russia ($X) remains the key foreign market for cheese and curd exports from Serbia, comprising 57% of total exports. The second position in the ranking was held by North Macedonia ($X), with an 11% share of total exports. It was followed by Montenegro, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+7.5% per year) and Montenegro (-0.3% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, with an increase of 9.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 11% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and Montenegro ($X per ton), while the average price for exports to Bulgaria ($X per ton) and Bosnia and Herzegovina ($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 Croatia (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Serbia

In 2022, the amount of cheese and curd imported into Serbia expanded sharply to X tons, increasing by 11% against the year before. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 62%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, cheese and curd imports soared to $X in 2022. Over the period under review, imports recorded a strong increase. The growth pace was the most rapid in 2018 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest cheese and curd supplier to Serbia, with a 49% share of total imports. Moreover, cheese and curd imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. Italy (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+37.7% per year) and Italy (+19.5% per year).

In value terms, Germany ($X) constituted the largest supplier of cheese and curd to Serbia, comprising 46% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Poland, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+18.2% per year) and Poland (+41.3% per year).

Import Prices by Country

The average cheese and curd import price stood at $X per ton in 2022, rising by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2013 an increase of 21%. The import price peaked in 2022 and is likely to see steady growth in the near future.

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 Italy ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by North Macedonia (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform