Serbia: Shelled Hazelnut Market 2024

Shelled Hazelnut Market Size in Serbia

The Serbian shelled hazelnut market contracted modestly to $X in 2023, dropping by X% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. Shelled hazelnut consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Shelled Hazelnut Production in Serbia

In value terms, shelled hazelnut production shrank modestly to $X in 2023 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Shelled Hazelnut Exports

Exports from Serbia

In 2023, approx. X tons of shelled hazelnuts were exported from Serbia; growing by X% on the previous year. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are likely to see gradual growth in years to come.

In value terms, shelled hazelnut exports soared to $X in 2023. Over the period under review, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

Montenegro (X tons), Italy (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of shelled hazelnut exports from Serbia, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Montenegro ($X) remains the key foreign market for shelled hazelnuts exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Bosnia and Herzegovina, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Montenegro amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Bosnia and Herzegovina (X% per year).

Export Prices by Country

The average shelled hazelnut export price stood at $X per ton in 2023, stabilizing at the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Shelled Hazelnut Imports

Imports into Serbia

In 2023, approx. X tons of shelled hazelnuts were imported into Serbia; approximately mirroring the previous year. Overall, imports, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, shelled hazelnut imports amounted to $X in 2023. In general, imports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Turkey (X tons) constituted the largest supplier of shelled hazelnut to Serbia, accounting for a X% share of total imports. Moreover, shelled hazelnut imports from Turkey exceeded the figures recorded by the second-largest supplier, Georgia (X tons), more than tenfold. Croatia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Turkey totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Georgia (X% per year) and Croatia (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of shelled hazelnuts to Serbia, comprising X% of total imports. The second position in the ranking was taken by Georgia ($X), with a X% share of total imports. It was followed by Croatia, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Georgia (X% per year) and Croatia (X% per year).

Import Prices by Country

The average shelled hazelnut import price stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. 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 hit record highs at $X per ton in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform