Serbia: Market for Rape Or Colza Seed 2024

Market Size for Rape Or Colza Seed in Serbia

In 2022, after two years of decline, there was significant growth in the Serbian rape and colza seed market, when its value increased by 1,911% to $X. In general, consumption, however, saw a deep contraction. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Rape Or Colza Seed in Serbia

In value terms, rape and colza seed production dropped modestly to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 37% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

The average yield of rape or colza seed in Serbia rose significantly to X tons per ha in 2022, growing by 7.9% compared with 2021 figures. Over the period under review, the yield, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2015 with an increase of 46%. Over the period under review, the average rape and colza seed yield attained the maximum level at X tons per ha in 2018; however, from 2019 to 2022, the yield stood 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 rape or colza seed in Serbia stood at X ha, with an increase of 4.3% compared with the previous year. In general, the harvested area saw a resilient expansion. The growth pace was the most rapid in 2017 when the harvested area increased by 44% against the previous year. The rape and colza seed harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Exports of Rape Or Colza Seed

Exports from Serbia

In 2022, shipments abroad of rape or colza seed decreased by -4.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 580%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, rape and colza seed exports expanded significantly to $X in 2022. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 412%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for rape and colza seed exports from Serbia, with a 65% share of total exports. Moreover, rape and colza seed exports to Germany exceeded the volume sent to the second major destination, Hungary (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+36.3% per year) and the Czech Republic (+39.3% per year).

In value terms, Germany ($X) remains the key foreign market for rape or colza seed exports from Serbia, comprising 66% of total exports. The second position in the ranking was held by Hungary ($X), with a 17% share of total exports. It was followed by Bosnia and Herzegovina, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+38.0% per year) and Bosnia and Herzegovina (-0.7% per year).

Export Prices by Country

In 2022, the average rape and colza seed export price amounted to $X per ton, surging by 16% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rape and colza seed export price increased by +82.7% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of 36% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to the Czech Republic ($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 Romania (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rape Or Colza Seed

Imports into Serbia

After three years of decline, supplies from abroad of rape or colza seed increased by 77% to X tons in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 3,428%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, rape and colza seed imports surged to $X in 2022. In general, imports showed significant growth. The growth pace was the most rapid in 2017 with an increase of 609% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of rape and colza seed to Serbia, with a 77% share of total imports. Moreover, rape and colza seed imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Romania (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+27.7% per year) and Romania (+43.1% per year).

In value terms, France ($X) constituted the largest supplier of rape or colza seed to Serbia, comprising 80% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by Romania, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +57.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+31.1% per year) and Romania (+31.9% per year).

Import Prices by Country

The average rape and colza seed import price stood at $X per ton in 2022, rising by 23% against the previous year. Overall, the import price recorded notable growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by 843%. The import price peaked in 2022 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 Spain ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+43.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform