Serbia: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Serbia

After three years of growth, the Serbian sunflower oilcake market decreased by X% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Sunflower Oilcake Production in Serbia

In value terms, sunflower oilcake production fell to $X in 2022 estimated in export price. In general, production saw a slight contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 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.

Sunflower Oilcake Exports

Exports from Serbia

In 2022, after three years of decline, there was significant growth in overseas shipments of sunflower oilcake, when their volume increased by X% to X tons. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sunflower oilcake exports soared to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Italy (X tons) was the main destination for sunflower oilcake exports from Serbia, with a X% share of total exports. Moreover, sunflower oilcake exports to Italy exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), more than tenfold. Croatia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and Croatia (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Bosnia and Herzegovina (X% per year).

Export Prices by Country

The average sunflower oilcake export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Albania ($X per ton) and Croatia ($X per ton), while the average price for exports to Montenegro ($X per ton) and Italy ($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.

Sunflower Oilcake Imports

Imports into Serbia

In 2022, after three years of growth, there was significant decline in overseas purchases of sunflower oilcake, when their volume decreased by X% to X tons. Over the period under review, imports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, sunflower oilcake imports contracted markedly to $X in 2022. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest sunflower oilcake supplier to Serbia, accounting for a X% share of total imports. Moreover, sunflower oilcake imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Bosnia and Herzegovina (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria totaled X%.

In value terms, Bulgaria ($X) constituted the largest supplier of sunflower oilcake to Serbia, comprising X% of total imports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Bulgaria totaled X%.

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price saw buoyant growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the price for Bosnia and Herzegovina totaled $X per ton.

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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