Serbia: Cheese Market 2024

Cheese Market Size in Serbia

In 2022, after two years of growth, there was significant decline in the Serbian cheese market, when its value decreased by X% to $X. Overall, the total consumption indicated tangible growth 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. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Cheese Production in Serbia

In value terms, cheese production reduced rapidly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest 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, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Cheese Exports

Exports from Serbia

Cheese exports from Serbia dropped to X tons in 2022, which is down by X% on the previous year's figure. Overall, total exports indicated prominent growth from 2012 to 2022: its volume 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, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid 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 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cheese exports expanded slightly to $X in 2022. In general, total exports indicated buoyant growth 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Russia (X tons) was the main destination for cheese exports from Serbia, with a X% share of total exports. Moreover, cheese exports to Russia exceeded the volume sent to the second major destination, North Macedonia (X tons), fivefold. The third position in this ranking was taken by Montenegro (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Montenegro (X% per year).

In value terms, Russia ($X) remains the key foreign market for cheese exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by North Macedonia ($X), with an X% share of total exports. It was followed by Montenegro, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Montenegro (X% per year).

Export Prices by Country

The average cheese export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

Cheese Imports

Imports into Serbia

For the seventh consecutive year, Serbia recorded growth in overseas purchases of cheese, which increased by X% to X tons in 2022. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by X% 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, cheese imports surged to $X in 2022. Overall, imports recorded a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest cheese supplier to Serbia, with a X% share of total imports. Moreover, cheese imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a X% share.

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

In value terms, Germany ($X) constituted the largest supplier of cheese to Serbia, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with an X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Poland (X% per year).

Import Prices by Country

The average cheese import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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 Italy ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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