Serbia: Sugar Crop Market 2024

Sugar Crop Market Size in Serbia

The Serbian sugar crop market dropped to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a pronounced setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Sugar Crop Production in Serbia

In value terms, sugar crop production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average sugar crop yield in Serbia fell to X tons per ha, with a decrease of X% against the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by X% against the previous year. The sugar crop yield peaked at X tons per ha in 2014; however, from 2015 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, approx. X ha of sugar crops were harvested in Serbia; with a decrease of X% against the year before. Overall, the harvested area recorded a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to sugar crop production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sugar Crop Exports

Exports from Serbia

In 2022, the amount of sugar crops exported from Serbia plummeted to X tons, declining by X% against the previous year's figure. Overall, exports recorded a precipitous descent. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sugar crop exports shrank dramatically to $X in 2022. In general, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Montenegro (X tons), Bosnia and Herzegovina (X tons) and Australia (X kg) were the main destinations of sugar crop exports from Serbia.

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

In value terms, Bosnia and Herzegovina ($X), Montenegro ($X) and Australia ($X) appeared to be the largest markets for sugar crop exported from Serbia worldwide.

Among the main countries of destination, Bosnia and Herzegovina, with a CAGR of X%, recorded the highest growth rate of 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

The average sugar crop export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price, however, posted significant growth. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Montenegro ($X per ton) was 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 mixed trend patterns.

Sugar Crop Imports

Imports into Serbia

In 2022, sugar crop imports into Serbia shrank dramatically to X tons, which is down by X% compared with the previous year's figure. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar crop imports reduced remarkably to $X in 2022. Overall, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), Hungary (X tons) and Italy (X tons) were the main suppliers of sugar crop imports to Serbia, with a combined X% share of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Hungary ($X) and Italy ($X) constituted the largest sugar crop suppliers to Serbia, with a combined X% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugar crop import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price saw a slight setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 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 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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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