Serbia: Hemp Tow Market 2025

Hemp Tow Market Size in Serbia

The Serbian hemp tow market dropped sharply to $X in 2022, reducing by -25.9% against the previous year. In general, consumption, however, recorded a resilient increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Hemp Tow Production in Serbia

In value terms, hemp tow production shrank to $X in 2022 estimated in export price. In general, production, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 when the production volume increased by 33% against the previous year. Hemp tow production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

The average yield of hemp tow in Serbia was estimated at less than X kg per ha in 2022, remaining constant against the previous year. Overall, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of hemp tow production in Serbia totaled less than X ha, therefore, remained relatively stable against the previous year's figure. Over the period under review, the harvested area saw a relatively flat trend pattern.

Hemp Tow Exports

Exports from Serbia

In 2022, overseas shipments of hemp tow decreased by -32.9% to X kg, falling for the fourth year in a row after two years of growth. In general, exports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 2,225%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, hemp tow exports shrank remarkably to $X in 2022. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 434% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X kg), Montenegro (X kg) and Slovenia (X kg) were the main destinations of hemp tow exports from Serbia, with a combined 94% share 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 Slovenia (with a CAGR of +52.9%), while the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X) remains the key foreign market for hemp tow exports from Serbia, comprising 84% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 9.2% share of total exports. It was followed by Montenegro, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovenia stood at +291.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+13.6% per year) and Montenegro (-5.5% per year).

Export Prices by Country

In 2022, the average hemp tow export price amounted to $X per ton, dropping by -21.1% against the previous year. In general, the export price, however, continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 528% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then contracted significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Algeria ($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 Slovenia (+155.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hemp Tow Imports

Imports into Serbia

In 2022, after two years of growth, there was significant decline in supplies from abroad of hemp tow, when their volume decreased by -28.9% to X tons. In general, imports showed a deep reduction. The growth pace was the most rapid in 2017 when imports increased by 596% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, hemp tow imports dropped dramatically to $X in 2022. Over the period under review, imports faced a abrupt decrease. The pace of growth was the most pronounced in 2017 with an increase of 515% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Greece (X tons), Italy (X tons) and France (X kg) were the main suppliers of hemp tow imports to Serbia, together accounting for 99.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +45.0%), while imports for the other leaders experienced a decline.

In value terms, Italy ($X), Greece ($X) and France ($X) constituted the largest hemp tow suppliers to Serbia, with a combined 99.9% share of total imports.

Among the main suppliers, France, with a CAGR of +18.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average hemp tow import price amounted to $X per ton, growing by 5.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 41% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Turkey (+235.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform