Serbia: Soya Bean Market 2024

Soya Bean Market Size in Serbia

The Serbian soya bean market soared to $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated prominent 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. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Soya Bean Production in Serbia

In value terms, soya bean production expanded to $X in 2022 estimated in export price. Overall, the total production indicated a prominent 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 growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

In 2022, the average soya bean yield in Serbia soared to X tons per ha, with an increase of X% against the previous year's figure. Over the period under review, the yield indicated tangible 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, soya bean yield decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average soya bean 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.

The soya bean harvested area in Serbia reduced slightly to X ha in 2022, remaining relatively unchanged against 2021. Over the period under review, the total harvested area indicated measured 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, soya bean harvested area increased by X% against 2014 indices. The growth pace was the most rapid in 2015 with an increase of X%. The soya bean harvested area peaked at X ha in 2021, and then declined modestly in the following year.

Soya Bean Exports

Exports from Serbia

In 2022, shipments abroad of soya beans decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, soya bean exports plummeted to $X in 2022. Over the period under review, exports recorded a slight contraction. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X tons), Romania (X tons) and Italy (X tons) were the main destinations of soya bean exports from Serbia, together comprising X% of total exports. Croatia, Bosnia and Herzegovina, Slovakia, Germany, Hungary and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soya bean exported from Serbia were Austria ($X), Romania ($X) and Italy ($X), together comprising X% of total exports. Croatia, Bosnia and Herzegovina, Slovakia, Germany, France and Hungary lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, France, 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 soya bean export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price posted a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Hungary ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Bean Imports

Imports into Serbia

In 2022, overseas purchases of soya beans increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, soya bean imports surged to $X in 2022. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Croatia (X tons) constituted the largest soya bean supplier to Serbia, accounting for a X% share of total imports. Moreover, soya bean imports from Croatia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fivefold. The third position in this ranking was taken by Romania (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 Romania (X% per year).

In value terms, Croatia ($X) constituted the largest supplier of soya beans to Serbia, comprising X% of total imports. The second position in the ranking was held by Hungary ($X), with a X% share of total imports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Croatia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Romania (X% per year).

Import Prices by Country

The average soya bean import price stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Romania ($X per ton) and Hungary ($X per ton), while the price for Ukraine ($X per ton) and Croatia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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