Serbia: Oil Crops Market 2024

Oil Crops Market Size in Serbia

In 2022, the Serbian oil crops market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Oil crops consumption peaked in 2022 and is likely to see gradual growth in years to come.

Oil Crops Production in Serbia

In value terms, oil crops production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion 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. Based on 2022 figures, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

In 2022, the average yield of oil crops (primary) in Serbia expanded significantly to X tons per ha, increasing by X% against the previous year's figure. The yield figure 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 pace of growth was the most pronounced in 2013 with an increase of X%. The oil crops yield peaked at X tons per ha in 2018; however, from 2019 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 oil crops harvested area in Serbia reached X ha, standing approx. at the previous year. 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 in certain years. The pace of growth was the most pronounced in 2017 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to oil crops production attained the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Oil Crops Exports

Exports from Serbia

In 2022, overseas shipments of oil crops (primary) decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, oil crops exports reduced rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons), Germany (X tons) and Hungary (X tons) were the main destinations of oil crops exports from Serbia, together accounting for X% of total exports. The Czech Republic, Austria, Slovakia, Romania, Italy and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for oil crops exported from Serbia were Bosnia and Herzegovina ($X), Germany ($X) and Hungary ($X), together comprising X% of total exports. The Czech Republic, Slovakia, Russia, Austria, Romania and Italy lagged somewhat behind, together comprising a further X%.

Austria, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Russia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Serbia

In 2022, overseas purchases of oil crops (primary) increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports posted a notable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports surged to $X in 2022. In general, imports recorded a pronounced expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Croatia (X tons) constituted the largest oil crops supplier to Serbia, with a X% share of total imports. Moreover, oil crops imports from Croatia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fivefold. Romania (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Croatia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Romania (X% per year).

In value terms, Croatia ($X) constituted the largest supplier of oil crops (primary) to Serbia, comprising X% of total imports. The second position in the ranking was taken by Hungary ($X), with a X% share of total imports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Croatia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Romania (X% per year).

Import Prices by Country

The average oil crops import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform