Serbia: Grain Market 2024

Grain Market Size in Serbia

The Serbian grain market soared to $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Grain consumption peaked in 2022 and is expected to retain growth in years to come.

Grain Production in Serbia

In value terms, grain production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

In 2022, the average grain yield in Serbia rose sharply to X tons per ha, growing by X% on the previous year. In general, the yield indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain yield decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the average grain yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cereal grains in Serbia declined to X ha, remaining constant against 2021. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the harvested area reached the peak level of X ha; afterwards, it flattened through to 2022.

Grain Exports

Exports from Serbia

In 2022, overseas shipments of cereal grains decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports showed a mild shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, grain exports shrank sharply to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

Romania (X tons), Italy (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of grain exports from Serbia, with a combined X% share of total exports. North Macedonia, Hungary, Austria, Albania and Montenegro lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for grain exported from Serbia were Romania ($X), Italy ($X) and Bosnia and Herzegovina ($X), together comprising X% of total exports. Hungary, North Macedonia, Austria, Albania and Montenegro lagged somewhat behind, together accounting for a further X%.

Austria, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average grain export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Hungary ($X per ton) and Austria ($X per ton), while the average price for exports to Italy ($X per ton) and Romania ($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 Albania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Grain Imports

Imports into Serbia

In 2022, the amount of cereal grains imported into Serbia soared to X tons, jumping by X% against the year before. In general, imports enjoyed a slight expansion. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, grain imports soared to $X in 2022. Overall, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Croatia (X tons) constituted the largest grain supplier to Serbia, accounting for a X% share of total imports. Moreover, grain imports from Croatia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Croatia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Russia (X% per year).

In value terms, France ($X), Hungary ($X) and Romania ($X) appeared to be the largest grain suppliers to Serbia, with a combined X% share of total imports. Turkey, Italy, Croatia, Russia, Austria, Ukraine, Bosnia and Herzegovina and the Czech Republic lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 grain import price amounted to $X per ton, falling by X% against the previous year. In general, the import price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat 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 Romania ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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