Serbia: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Serbia

The Serbian wheat and meslin flour market was estimated at $X in 2022, rising by 14% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Wheat and meslin flour consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Wheat and Meslin Flour in Serbia

In value terms, wheat and meslin flour production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Wheat and Meslin Flour

Exports from Serbia

After five years of decline, overseas shipments of wheat and meslin flour increased by 4.5% to X tons in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 32% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, wheat and meslin flour exports soared to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

North Macedonia (X tons), Montenegro (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of wheat and meslin flour exports from Serbia, with a combined 92% share of total exports. Albania and Croatia lagged somewhat behind, together accounting for a further 6.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +25.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for wheat and meslin flour exported from Serbia were Montenegro ($X), North Macedonia ($X) and Bosnia and Herzegovina ($X), together comprising 92% of total exports. Albania and Croatia lagged somewhat behind, together comprising a further 6.5%.

Among the main countries of destination, Croatia, with a CAGR of +32.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wheat and meslin flour export price stood at $X per ton in 2022, surging by 42% against the previous year. In general, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +120.0% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Montenegro ($X per ton) and North Macedonia ($X per ton), while the average price for exports to Albania ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Serbia

In 2022, overseas purchases of wheat and meslin flour increased by 5.9% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 148% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, wheat and meslin flour imports soared to $X in 2022. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2019 with an increase of 126%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Bosnia and Herzegovina (X tons), Italy (X tons) and Austria (X tons) were the main suppliers of wheat and meslin flour imports to Serbia, together comprising 83% of total imports. Germany, Hungary, Montenegro, Bulgaria and Cyprus lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +170.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Italy ($X) and Austria ($X) were the largest wheat and meslin flour suppliers to Serbia, together accounting for 81% of total imports. Germany, Hungary, Montenegro, Bulgaria and Cyprus lagged somewhat behind, together accounting for a further 15%.

Bulgaria, with a CAGR of +161.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wheat and meslin flour import price amounted to $X per ton, growing by 31% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform