Serbia: Grain Market 2024

Grain Market Size in Serbia

The Serbian grain market skyrocketed to $X in 2022, with an increase of X% against the previous year. In general, the total consumption indicated strong 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, consumption increased by X% against 2018 indices. Grain consumption peaked in 2022 and is expected to retain growth in the near future.

Grain Production in Serbia

In value terms, grain production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight 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 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Grain production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

In 2022, the average yield of grain in Serbia expanded notably to X tons per ha, increasing by X% on the year before. Overall, the yield indicated buoyant 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, grain yield decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. The grain yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat 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 grain were harvested in Serbia; leveling off at 2021 figures. In general, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha; afterwards, it flattened through to 2022.

Grain Exports

Exports from Serbia

In 2022, overseas shipments of grain decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports saw a slight decline. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, grain exports fell notably to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

Romania (X tons), Italy (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of grain exports from Serbia, with a combined X% share of total exports. North Macedonia, Hungary, Austria, Albania and Montenegro lagged somewhat behind, together accounting for 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, Romania ($X), Italy ($X) and Bosnia and Herzegovina ($X) were the largest markets for grain exported from Serbia worldwide, with a combined X% share of total exports. Hungary, North Macedonia, Austria, Albania and Montenegro lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Austria, 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 grain export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, export price indicated perceptible growth 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, grain export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas 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 ($X per ton) and Romania ($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.

Grain Imports

Imports into Serbia

In 2022, grain imports into Serbia surged to X tons, jumping by X% compared with the previous year's figure. Over the period under review, imports enjoyed a modest expansion. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, grain imports surged to $X in 2022. In general, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Croatia (X tons) constituted the largest grain supplier to Serbia, with a X% share of total imports. Moreover, grain imports from Croatia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Croatia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Russia (X% per year).

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

Among the main suppliers, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average grain import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, recorded prominent growth. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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