Brown Rice Price in Serbia - 2023

Contents:

1. Brown Rice Price in Serbia (CIF) - 2022
2. Brown Rice Price in Serbia (FOB) - 2022
3. Brown Rice Imports in Serbia
4. Brown Rice Exports in Serbia

Brown Rice Price in Serbia (CIF) - 2022

In 2022, the average brown rice import price amounted to $907 per ton, surging by 11% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, brown rice import price decreased by -13.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 69%. As a result, import price attained the peak level of $1,043 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($1,707 per ton), while the price for China ($675 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Brown Rice Price in Serbia (FOB) - 2022

In 2022, the average brown rice export price amounted to $827 per ton, increasing by 28% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced setback. The export price peaked at $1,456 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Montenegro ($916 per ton), while the average price for exports to Bosnia and Herzegovina amounted to $820 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (-2.1%).

Brown Rice Imports in Serbia

In 2022, the amount of husked (brown) rice imported into Serbia contracted to 548 tons, waning by -12.5% on 2021. Overall, imports saw a deep downturn. The growth pace was the most rapid in 2021 when imports increased by 41% against the previous year.

In value terms, brown rice imports fell to $497K in 2022. The total import value increased at an average annual rate of +7.8% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 17% against the previous year.

Top Suppliers of Brown Rice to Serbia in 2022:

1. North Macedonia (316.8 tons)
2. Pakistan (101.2 tons)
3. Italy (92.7 tons)
4. China (25.0 tons)
5. India (4.0 tons)

Brown Rice Exports in Serbia

In 2022, exports of husked (brown) rice from Serbia contracted rapidly to 296 tons, which is down by -55.6% compared with the previous year's figure. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 178% against the previous year. As a result, the exports attained the peak of 666 tons, and then fell markedly in the following year.

In value terms, brown rice exports contracted significantly to $244K in 2022. In general, exports, however, enjoyed moderate growth. The growth pace was the most rapid in 2021 with an increase of 201%. As a result, the exports reached the peak of $431K, and then contracted rapidly in the following year.

Top Export Markets for Brown Rice from Serbia in 2022:

1. Bosnia and Herzegovina (275.4 tons)
2. Montenegro (20.2 tons)

Source: IndexBox Market Intelligence Platform