Serbia: Nuts Market 2024

Nuts Market Size in Serbia

In 2022, the Serbian nuts market was finally on the rise to reach $X for the first time since 2014, thus ending a seven-year declining trend. Over the period under review, the total consumption indicated a notable increase 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. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Nuts Production in Serbia

In value terms, nuts production shrank remarkably to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of nuts in Serbia expanded markedly to X tons per ha, picking up by X% compared with 2021. Over the period under review, the yield, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2015 with an increase of X%. The nuts yield peaked at X tons per ha in 2013; however, from 2014 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, the nuts harvested area in Serbia fell modestly to X ha, approximately equating 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the harvested area increased by X%. The nuts harvested area peaked at X ha in 2021, and then contracted in the following year.

Nuts Exports

Exports from Serbia

In 2022, overseas shipments of nuts decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, nuts exports reduced sharply to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Italy (X tons) was the main destination for nuts exports from Serbia, accounting for a X% share of total exports. Moreover, nuts exports to Italy exceeded the volume sent to the second major destination, Montenegro (X tons), more than tenfold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and Bosnia and Herzegovina (X% per year).

In value terms, Italy ($X) emerged as the key foreign market for nuts exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Montenegro ($X), with a X% share of total exports. It was followed by Bosnia and Herzegovina, with a X% share.

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

Export Prices by Country

In 2022, the average nuts export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Nuts Imports

Imports into Serbia

In 2022, after three years of growth, there was significant decline in supplies from abroad of nuts, when their volume decreased by X% to X tons. In general, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, nuts imports shrank rapidly to $X in 2022. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then fell dramatically in the following year.

Imports by Country

Greece (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of nuts imports to Serbia, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Turkey ($X) and Italy ($X) appeared to be the largest nuts suppliers to Serbia, with a combined X% share of total imports.

Among the main suppliers, Italy, with a CAGR of X%, saw 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 nuts import price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for North Macedonia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform