Mustard seeds market in Serbia

Earlier Report Observations

The mustard seeds market in Serbia expanded from 2 233 t in 2018 to 2 968 t in 2023, an overall growth of 33%. This increase was primarily driven by a sharp reduction in exports, which freed domestic supply for local consumption, combined with steadily rising import volumes.

The market saw moderate growth in 2019, supported by broader economic improvements including increased external trade and declining unemployment. After a stable 2020, a significant expansion occurred in 2021 when export volumes plummeted. In 2022, exports of cereals and oil seeds, including mustard seeds, dropped by 29.8% in the first quarter, while imports in this category surged by 64.0%. Concurrent real GDP growth of 2.3% and a 40.6% expansion in the catering sector further boosted domestic demand.

By 2023, the market reached a plateau, with volume stabilizing near 2 968 t. Preliminary 2024 trade data shows import volumes continued their upward trend, reaching 676 t, while exports remained minimal at 9 t.

Production mustard seeds in Serbia

In kind, 2017-2020, t

From 2017 to 2020, Serbia ranked 12th globally in mustard seed production volume.

Top producers of mustard seeds, 2017-2020

World map of production of mustard seeds, 2017-2020

After two years of growth, mustard seed production in Serbia declined. In 2020, Serbia produced 2 491 tonnes of mustard seeds, marking a slight year-over-year decrease of 2.4%. Over the 2017-2020 period, production increased by 3.3%, with a compound annual growth rate (CAGR) of 1.1%. The highest production was recorded in 2019 at 2 554 tonnes, while the largest increase occurred in 2018 at 4.0%.

Annual dynamics of production in Serbia in kind, 2017-2020, t

In value, 2017-2020, K $ US

Serbia's mustard seed production value increased for the second consecutive year. In 2020, the output was valued at 3 267 thousand US dollars, reflecting a 15.6% gain compared to the previous year. From 2017 to 2020, production value rose by 23.9%, with a CAGR of 7.4%. The lowest value was recorded in 2018 at 2 576 thousand US dollars, which also saw the largest decline of 2.3%.

Annual dynamics of production in Serbia in value, 2017-2020, K $ US

Exports mustard seeds from Serbia

Exports in kind, t

The market showed noticeable fluctuations during the period. Exports reached their lowest point in 2017 and peaked in 2018, with a 9.1-fold difference between these years. In 2020, Serbia exported 443.3 tonnes of mustard seeds, down 1.2% from 2019. The highest export volume was in 2018 at 494.0 tonnes, while the largest decline occurred in 2019 at 9.2%. The largest increase was recorded in 2018 at 805.6%.

Annual dynamics of product's exports from Serbia in kind, 2017-2020, t

From 2017 to 2020, Hungary was the dominant buyer of mustard seeds from Serbia, accounting for 94.5% of total exports in volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Serbia in kind, 2017-2020

Exports in value, K $ US

The market exhibited volatility over the observed period. Exports reached their minimum in 2017 and peaked in 2020, with a 9.7-fold variation between these years. In 2020, mustard seed shipments from Serbia totaled 581.2 thousand US dollars, showing a solid advance of 17.1% compared to the prior year. The largest decline was in 2019 at 2.2%, while the largest increase occurred in 2018 at 750.3%.

Annual dynamics of product's exports from Serbia in value, 2017-2020, K $ US

From 2017 to 2020, Hungary effectively monopolized the value of mustard seed exports from Serbia, taking 94.5% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Serbia in value, 2017-2020

Imports mustard seeds to Serbia

Imports in kind, t

Mustard seed deliveries to Serbia increased for the third consecutive year. In 2020, Serbia imported 296.1 tonnes of mustard seeds, representing a 23.8% uptick compared to 2019. Over the 2017-2020 period, imports grew by 41.4%, with a CAGR of 12.2%.

Annual dynamics of product's imports to Serbia in kind, 2017-2020, t

From 2017 to 2020, Ukraine and Russia dominated imports in volume, together accounting for 91.1% of total flows, with other destinations making smaller individual contributions.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Serbia in kind, 2017-2020

Imports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Import volumes reached their lowest level in 2017 and peaked in 2020, with a top-to-bottom ratio of 1.9 times. In 2020, mustard seed shipments to Serbia from abroad came to 409.4 thousand US dollars, marking a dramatic rise of 79.3% year-over-year. The largest decline was recorded in 2019 at 0.5%.

Annual dynamics of product's imports to Serbia in value, 2017-2020, K $ US

Over the 2017-2020 period, Ukraine and Russia clearly dominated the partner structure for imports in value terms, while other countries together formed the remaining share.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Serbia in value, 2017-2020