Serbia: Maize Market 2024

Maize Market Size in Serbia

For the third consecutive year, the Serbian maize market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption recorded buoyant growth. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Maize Production in Serbia

In value terms, maize production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate 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 growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of maize in Serbia skyrocketed to X tons per ha in 2022, increasing by X% compared with the year before. Overall, the yield indicated prominent 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, maize yield decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the average maize yield attained the peak level at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the maize harvested area in Serbia fell to X ha, standing approx. at the previous year's figure. In general, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2015 to 2022, the growth of the maize harvested area failed to regain momentum.

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Maize Exports

Exports from Serbia

In 2022, overseas shipments of maize decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, maize exports shrank dramatically to $X in 2022. In general, exports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

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

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In terms of the main countries of destination, Hungary, with a CAGR of X%, saw 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

In 2022, the average maize export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, 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, maize export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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

Maize Imports

Imports into Serbia

In 2022, purchases abroad of maize increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, maize imports soared to $X in 2022. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), France (X tons) and Hungary (X tons) were the main suppliers of maize imports to Serbia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Hungary ($X) and Romania ($X) constituted the largest maize suppliers to Serbia, with a combined X% share of total imports. Turkey, Italy, Russia and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, 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 maize import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

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 ($X per ton), while the price for Russia ($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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