Serbia: Starch Manufacture Residues Market 2024

Starch Manufacture Residues Market Size in Serbia

In 2022, after two years of growth, there was decline in the Serbian starch manufacture residues market, when its value decreased by -0.4% to $X. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.3% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Starch Manufacture Residues Production in Serbia

In value terms, starch manufacture residues production contracted modestly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +0.4% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Starch Manufacture Residues Exports

Exports from Serbia

Starch manufacture residues exports from Serbia skyrocketed to X tons in 2022, growing by 55% on the year before. In general, exports saw a strong increase. The growth pace was the most rapid in 2015 with an increase of 107% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, starch manufacture residues exports surged to $X in 2022. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 85%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Greece (X tons) was the main destination for starch manufacture residues exports from Serbia, accounting for a 90% share of total exports. Moreover, starch manufacture residues exports to Greece exceeded the volume sent to the second major destination, the Czech Republic (X tons), more than tenfold. The third position in this ranking was taken by Switzerland (X tons), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+8.7% per year) and Switzerland (0.0% per year).

In value terms, Greece ($X) remains the key foreign market for residues of starch manufacture exports from Serbia, comprising 83% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a 6% share of total exports. It was followed by the Czech Republic, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to Greece stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+11.4% per year) and the Czech Republic (+7.7% per year).

Export Prices by Country

In 2022, the average starch manufacture residues export price amounted to $X per ton, rising by 4.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2021 when the average export price increased by 34%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Greece ($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 Bosnia and Herzegovina (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Manufacture Residues Imports

Imports into Serbia

For the third year in a row, Serbia recorded growth in overseas purchases of residues of starch manufacture, which increased by 6% to X tons in 2022. Over the period under review, imports posted a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 645%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, starch manufacture residues imports skyrocketed to $X in 2022. Overall, imports continue to indicate significant growth. The growth pace was the most rapid in 2017 with an increase of 191%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Hungary (X tons) was the main starch manufacture residues supplier to Serbia, accounting for a 93% share of total imports. It was followed by Italy (X tons), with a 2.8% share of total imports. The third position in this ranking was held by Poland (X tons), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from Hungary stood at +94.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+41.1% per year) and Poland (+13.2% per year).

In value terms, Hungary ($X) constituted the largest supplier of residues of starch manufacture to Serbia, comprising 68% of total imports. The second position in the ranking was held by Poland ($X), with a 10% share of total imports. It was followed by Italy, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from Hungary stood at +76.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+15.0% per year) and Italy (+44.3% per year).

Import Prices by Country

The average starch manufacture residues import price stood at $X per ton in 2022, jumping by 18% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The pace of growth was the most pronounced in 2013 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average 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 Austria ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform