Serbia: Durum Wheat Market 2024

Durum Wheat Market Size in Serbia

In 2022, after two years of growth, there was decline in the Serbian durum wheat market, when its value decreased by -2.8% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. Durum wheat consumption peaked at $X in 2021, and then reduced in the following year.

Durum Wheat Production in Serbia

In value terms, durum wheat production expanded to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 36%. Durum wheat production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average yield of durum wheat in Serbia shrank to X tons per ha, which is down by -6.9% against the year before. The yield figure increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the yield increased by 18%. Over the period under review, the average durum wheat yield reached the peak level at X tons per ha in 2021, and then dropped in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The durum wheat harvested area in Serbia shrank to X ha in 2022, leveling off at 2021. Overall, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the durum wheat harvested area remained at a somewhat lower figure.

Durum Wheat Exports

Exports from Serbia

For the third year in a row, Serbia recorded growth in shipments abroad of durum wheat, which increased by 31% to X tons in 2022. Over the period under review, exports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 59% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, durum wheat exports soared to $X in 2022. Overall, exports, however, continue to indicate a mild decrease. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), Romania (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of durum wheat exports from Serbia, together comprising 84% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bosnia and Herzegovina (with a CAGR of +23.3%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) emerged as the key foreign market for durum wheat exports from Serbia, comprising 44% of total exports. The second position in the ranking was held by Romania ($X), with a 22% share of total exports. It was followed by Bosnia and Herzegovina, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-4.8% per year) and Bosnia and Herzegovina (+23.7% per year).

Export Prices by Country

In 2022, the average durum wheat export price amounted to $X per ton, growing by 28% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, durum wheat export price increased by +95.0% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to North Macedonia ($X per ton) and Bosnia and Herzegovina ($X per ton), while the average price for exports to Romania ($X per ton) and Montenegro ($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 Ethiopia (+29.4%), while the prices for the other major destinations experienced more modest paces of growth.

Durum Wheat Imports

Imports into Serbia

After two years of growth, purchases abroad of durum wheat decreased by -96.1% to X tons in 2022. Overall, imports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2021 when imports increased by 199% against the previous year. As a result, imports attained the peak of X tons, and then contracted sharply in the following year.

In value terms, durum wheat imports declined dramatically to $X in 2022. In general, imports faced a significant decline. The growth pace was the most rapid in 2021 when imports increased by 125% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Greece (X tons) was the main supplier of durum wheat to Serbia, accounting for a 99% share of total imports. It was followed by Italy (X kg), with a 0.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Greece totaled -17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-17.3% per year) and France (-43.3% per year).

In value terms, Greece ($X) constituted the largest supplier of durum wheat to Serbia, comprising 98% of total imports. The second position in the ranking was held by Italy ($X), with a 1.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Greece amounted to -13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-12.4% per year) and France (-48.5% per year).

Import Prices by Country

The average durum wheat import price stood at $X per ton in 2022, surging by 180% against the previous year. Overall, the import price posted a noticeable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform