Serbia: Triticale Market 2024

Triticale Market Size in Serbia

The Serbian triticale market expanded significantly to $X in 2022, rising by 6.7% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -6.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Triticale Production in Serbia

In value terms, triticale production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 -7.9% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The average yield of triticale in Serbia fell to X tons per ha in 2022, with a decrease of -6.8% against the previous year. The yield figure increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by 19% against the previous year. The triticale yield peaked at X tons per ha in 2021, and then declined in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of triticale production in Serbia rose sharply to X ha, increasing by 7.6% compared with 2021 figures. Over the period under review, the total harvested area indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, triticale harvested area decreased by -6.6% against 2020 indices. The growth pace was the most rapid in 2014 when the harvested area increased by 34% against the previous year. Over the period under review, the harvested area dedicated to triticale production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Triticale Exports

Exports from Serbia

In 2022, shipments abroad of triticale increased by 23% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 88%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, triticale exports soared to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +105.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bosnia and Herzegovina (X tons), North Macedonia (X tons) and Italy (X tons) were the main destinations of triticale exports from Serbia, together comprising 79% of total exports. Montenegro, Uzbekistan, Spain, Iran, Croatia and Romania lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +108.4%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for triticale exports from Serbia, comprising 46% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 16% share of total exports. It was followed by Italy, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+84.5% per year) and Italy (+33.9% per year).

Export Prices by Country

In 2022, the average triticale export price amounted to $X per ton, picking up by 34% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to North Macedonia ($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 Iran (+47.9%), while the prices for the other major destinations experienced more modest paces of growth.

Triticale Imports

Imports into Serbia

In 2022, approx. X tons of triticale were imported into Serbia; with an increase of 24% against 2021 figures. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2013 with an increase of 286% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, triticale imports declined to $X in 2022. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 242% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Bosnia and Herzegovina (X tons) was the main supplier of triticale to Serbia, accounting for a approx. 99.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bosnia and Herzegovina amounted to +16.8%.

In value terms, Bosnia and Herzegovina ($X) constituted the largest supplier of triticale to Serbia.

From 2012 to 2022, the average annual growth rate of value from Bosnia and Herzegovina stood at +18.5%.

Import Prices by Country

In 2022, the average triticale import price amounted to $X per ton, which is down by -29% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 7.4% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Bosnia and Herzegovina.

From 2012 to 2022, the rate of growth in terms of prices for Hungary amounted to +133.3% per year.

Source: IndexBox Platform