Serbia: Mustard Seed Market 2025

Mustard Seed Market Size in Serbia

The Serbian mustard seed market skyrocketed to $X in 2022, surging by 15% against the previous year. In general, consumption showed a prominent increase. Mustard seed consumption peaked in 2022 and is expected to retain growth in the immediate term.

Mustard Seed Production in Serbia

In value terms, mustard seed production amounted to $X in 2022 estimated in export price. Overall, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 -4.2% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 41%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The average yield of mustard seed in Serbia reached X kg per ha in 2022, standing approx. at the previous year. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 3.3% against the previous year. As a result, the yield attained the peak level of X kg per ha. From 2015 to 2022, the growth of the average mustard seed yield remained at a somewhat 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, the harvested area of mustard seed in Serbia shrank to X ha, approximately mirroring the previous year. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 2% against the previous year. The mustard seed harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Mustard Seed Exports

Exports from Serbia

For the fourth consecutive year, Serbia recorded decline in shipments abroad of mustard seed, which decreased by -93.3% to X tons in 2022. Overall, exports recorded a sharp descent. The pace of growth was the most pronounced in 2018 when exports increased by 806% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, mustard seed exports reduced sharply to $X in 2022. Over the period under review, exports showed a dramatic decline. The pace of growth was the most pronounced in 2018 with an increase of 750%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Hungary (X tons) was the main destination for mustard seed exports from Serbia, with a 75% share of total exports. Moreover, mustard seed exports to Hungary exceeded the volume sent to the second major destination, North Macedonia (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary totaled -46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (-5.3% per year) and Montenegro (-2.8% per year).

In value terms, Hungary ($X) remains the key foreign market for mustard seed exports from Serbia, comprising 73% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hungary amounted to -43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (-13.6% per year) and Montenegro (-6.1% per year).

Export Prices by Country

The average mustard seed export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mustard seed export price increased by +84.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 40%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to Hungary ($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 Hungary (+4.3%), while the prices for the other major destinations experienced a decline.

Mustard Seed Imports

Imports into Serbia

In 2022, purchases abroad of mustard seed increased by 74% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports enjoyed a perceptible expansion. The growth pace was the most rapid in 2014 with an increase of 122%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, mustard seed imports soared to $X in 2022. In general, imports posted prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by 98% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest mustard seed supplier to Serbia, accounting for a 58% share of total imports. Moreover, mustard seed imports from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was held by Canada (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from Russia amounted to +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-9.1% per year) and Canada (+71.1% per year).

In value terms, the largest mustard seed suppliers to Serbia were Russia ($X), Ukraine ($X) and Poland ($X), with a combined 90% share of total imports. These countries were followed by Canada, which accounted for a further 9.4%.

Among the main suppliers, Canada, with a CAGR of +36.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mustard seed import price stood at $X per ton in 2022, picking up by 9.4% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mustard seed import price decreased by -12.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 47% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Poland ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform