Oil seeds and oleaginous fruits market in Serbia

Earlier Report Observations

The market for oil seeds and oleaginous fruits in Serbia contracted significantly from 4,797 t in 2018 to 1,663 t in 2022, before recovering to 2,216 t in 2023. This overall decline was primarily driven by the disruptive impact of the COVID-19 pandemic on supply chains and consumption, followed by the implementation of stricter EU-aligned labeling and traceability regulations that affected market access and production volumes.

The pandemic in 2020 caused logistical challenges and altered consumer habits, reducing overall market volume. Regulatory tightening in 2021, including enhanced origin-tracking requirements, created additional compliance barriers for producers and importers, further compressing the market. These pressures coincided with a shift in consumer preference toward organic and locally sourced products, which stimulated niche segment growth but did not offset the broader contraction.

By 2023, the market showed recovery, increasing to 2,216 t, as the industry adapted to the new regulatory environment. State-owned companies played a key role in stabilizing supply and focusing on export strategies amid evolving geopolitical conditions, supporting the market's partial rebound.

Production oil seeds and oleaginous fruits in Serbia

In kind, 2017-2020, t

Top producers of oil seeds and oleaginous fruits, 2017-2020

World map of production of oil seeds and oleaginous fruits, 2017-2020

The market exhibited significant volatility during these years. Production reached its lowest point in 2017, then peaked in 2018 with a 1.7-fold increase between these two years. In 2020, Serbia produced 2 738 tonnes of oil seeds and oleaginous fruits, marking a 1.8% year-over-year decline. The highest production volume was recorded in 2018 at 3 140 tonnes. The largest annual decrease occurred in 2019 with an 11.2% drop, while the biggest increase was seen in 2018 with a substantial 70.2% rise.

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

Exports oil seeds and oleaginous fruits from Serbia

Exports in kind, t

The market demonstrated notable volatility throughout the observed period. Export volumes hit their lowest point in 2019, then surged to a peak in 2020, representing a 5.6-fold increase between these years. In 2020, Serbia exported 672 tonnes of oil seeds and oleaginous fruits, showing a dramatic 455.1% increase compared to the previous year. The minimum export volume was recorded in 2019 at just 121 tonnes. The most significant decline occurred in 2019 with a 48.1% drop.

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

From 2017 to 2020, Hungary (40.1% of exports in kind), Germany (30.1% of exports in kind), and Montenegro (9.9% of exports in kind) consistently held the top positions in Serbia's export structure for oil seeds and oleaginous fruits. Together, these three countries accounted for 80.0% of total export flows during this period.

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 experienced noticeable fluctuations during this period. Export values reached their lowest point in 2019, then climbed to a peak in 2020, representing a 3.6-fold increase between these years. In 2020, Serbia exported oil seeds and oleaginous fruits worth 1 131 thousand US dollars, reflecting a substantial 255.7% increase year-over-year. The minimum export value was recorded in 2019 at 318 thousand US dollars. The most significant decline occurred in 2019 with a 16.2% decrease.

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

Between 2017 and 2020, Hungary (34.1% of exports in value terms), Germany (20.5% of exports in value terms), and Montenegro (17.6% of exports in value terms) remained the leading buyers of Serbian oil seeds and oleaginous fruits. Collectively, these three markets accounted for 72.3% of total export value during this four-year period.

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

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

Imports oil seeds and oleaginous fruits to Serbia

Imports in kind, t

Following two consecutive years of growth, Serbia's imports of oil seeds and oleaginous fruits declined. In 2020, import volume reached 1 469 tonnes, representing a 27.3% decrease compared to the previous year. Over the 2017-2020 period, imports decreased by 11.5%, with a compound annual growth rate of 4.0%. The highest import volume was recorded in 2019 at 2 020 tonnes. The largest annual increase occurred in 2018 with a 13.9% rise.

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

From 2017 to 2020, Ukraine (45.5% of imports in kind), Hungary (18.1% of imports in kind), and China (13.5% of imports in kind) were the primary sources for Serbia's imports of oil seeds and oleaginous fruits. Together, these three countries supplied 77.1% of total import flows during this period.

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

After two years of consecutive growth, Serbia's imports of oil seeds and oleaginous fruits declined in value terms. In 2020, imports amounted to 3 725 thousand US dollars, reflecting a significant 23.8% decrease compared to the previous year. Over the 2017-2020 period, import values increased by 12.4%, with a compound annual growth rate of 4.0%. The highest import value was recorded in 2019 at 4 888 thousand US dollars. The largest annual increase occurred in 2018 with a substantial 46.1% rise.

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

Between 2017 and 2020, Ukraine (43.1% of imports in value terms), Hungary (20.7% of imports in value terms), and China (15.2% of imports in value terms) formed the core group of markets for Serbia's imports of oil seeds and oleaginous fruits. Collectively, these three sources accounted for 78.9% of total import value during this four-year period.

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

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