Milled Rice Price in Serbia - 2023
Contents:
- Milled Rice Price in Serbia (CIF) - 2023
- Milled Rice Price in Serbia (FOB) - 2022
- Milled Rice Imports in Serbia
- Milled Rice Exports in Serbia
Milled Rice Price in Serbia (CIF) - 2023
In November 2023, the average milled rice import price amounted to $971 per ton, reducing by -1.9% against the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.1%. The growth pace was the most rapid in July 2023 when the average import price increased by 23% month-to-month. Over the period under review, average import prices hit record highs at $1,033 per ton in August 2023; however, from September 2023 to November 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($1,912 per ton), while the price for India ($590 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by North Macedonia (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Milled Rice Price in Serbia (FOB) - 2022
In 2022, the average milled rice export price amounted to $1,047 per ton, dropping by -15.5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 27% against the previous year. The export price peaked at $1,315 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Czech Republic ($1,115 per ton) and Montenegro ($1,059 per ton), while the average price for exports to Equatorial Guinea ($873 per ton) and Bosnia and Herzegovina ($923 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 Bosnia and Herzegovina (+1.1%), while the prices for the other major destinations experienced a decline.
Milled Rice Imports in Serbia
Milled rice imports into Serbia skyrocketed to 10K tons in 2022, growing by 19% against 2021 figures. The total import volume increased at an average annual rate of +15.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 31%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, milled rice imports surged to $8.8M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +25.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +97.2% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 42%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Milled Rice in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 267 | 707 | 637 | 1,800 | 88.9% |
| India | 38.2 | 457 | 1,493 | 1,720 | 255.8% |
| North Macedonia | 622 | 1,343 | 1,079 | 1,435 | 32.1% |
| Bulgaria | 118 | 198 | 382 | 1,040 | 106.6% |
| Italy | 741 | 665 | 709 | 758 | 0.8% |
| Myanmar | 396 | 672 | 508 | 569 | 12.8% |
| China | 631 | 547 | 642 | 549 | -4.5% |
| Greece | 173 | 423 | 390 | 403 | 32.6% |
| Thailand | 378 | 170 | 163 | 234 | -14.8% |
| Vietnam | 805 | 653 | 5.6 | N/A | -91.7% |
| Others | 293 | 486 | 508 | 291 | -0.2% |
| Total | 4,463 | 6,321 | 6,516 | 8,798 | 25.4% |
Top Suppliers of Milled Rice to Serbia in 2022:
- Pakistan (2.3K tons)
- India (2.3K tons)
- North Macedonia (1.8K tons)
- Bulgaria (1.2K tons)
- Myanmar (0.8K tons)
- China (0.7K tons)
- Italy (0.5K tons)
- Greece (0.5K tons)
- Thailand (0.2K tons)
Milled Rice Exports in Serbia
In 2022, approx. 410 tons of semi-milled or wholly milled (bleached) rice were exported from Serbia; growing by 200% against the previous year. In general, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, milled rice exports soared to $429K in 2022. Overall, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Milled Rice in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Montenegro | 151 | 174 | 153 | 360 | 33.6% |
| Czech Republic | N/A | N/A | N/A | 24.5 | 0% |
| Bosnia and Herzegovina | 6.4 | 78.2 | 9.2 | 22.2 | 51.4% |
| Equatorial Guinea | N/A | N/A | N/A | 13.1 | 0% |
| United States | 11.8 | 9.1 | 6.7 | 6.7 | -17.2% |
| Others | 26.1 | 0.1 | 0.1 | 2.8 | -52.5% |
| Total | 195 | 261 | 169 | 429 | 30.1% |
Top Export Markets for Milled Rice from Serbia in 2022:
- Montenegro (340.1 tons)
- Bosnia and Herzegovina (24.1 tons)
- Czech Republic (22.0 tons)
- Equatorial Guinea (15.0 tons)
- United States (6.7 tons)
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