Treenuts market in Serbia

Earlier Report Observations

The tree nuts market in Serbia from 2018 to 2020 was shaped by the entry of new varieties like Chandler, supported by the company Misbell with guaranteed purchase agreements and technical assistance, which encouraged orchard establishment. Focus on lateral-bearing varieties, promoted by the Serbian Nut Growers Association, laid a foundation for future yields. Although market volume dipped to 16 719 t in 2019, it recovered to 18 235 t in 2020 as increased interest in the Kolubara district and the formation of cooperatives improved producer access to the market.

After a contraction to 16 788 t in 2021, the market volume surged sharply to 24 507 t in 2022, its highest level in the period. This significant increase coincided with the maturation of orchards planted in prior years.

In 2023, adverse weather and hailstorms damaged the harvest, reducing supply and contributing to a market volume decline to 22 814 t, alongside a spike in domestic prices. Increased consumer demand and competition from cheaper Indian imports also characterized this year. Developments into 2024 included the adoption of new processing technologies, expansion of export-oriented orchards, and the emergence of new product segments like walnut rakija, with companies such as Orah Company DOO active in production and processing.

Production treenuts in Serbia

In kind, 2017-2020, t

Top producers of treenuts, 2017-2020

World map of production of treenuts, 2017-2020

After two years of decline, Serbia's treenuts production increased in 2020. The country produced 15 144 tonnes of treenuts that year, marking a 9.9% gain compared to 2019. Looking at the broader period from 2017 to 2020, production fell by 8.1%, which translates to an average annual decrease of 2.8%. The lowest production level was recorded in 2019 at 13 785 tonnes, with the largest year-on-year decline of 9.3% also occurring that year.

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

In value, 2017-2020, K $ US

Following two years of contraction, Serbia's treenuts production value rose in 2020. The output was valued at 64 633 thousand US dollars, representing a 16.5% increase over the previous year. From 2017 to 2020, the production value decreased by 22.1%, averaging an 8.0% annual decline. The minimum value was 55 492 thousand US dollars in 2019, while the most significant drop of 26.9% took place in 2018.

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

Exports treenuts from Serbia

Exports in kind, t

Serbia's treenuts exports grew for the second consecutive year in 2020. The export volume reached 375 tonnes, showing a sharp 38.1% increase compared to 2019. Over the 2017-2020 period, exports expanded by 34.1%, with a compound annual growth rate of 10.3%. The lowest export volume was 231 tonnes in 2018, which also saw the largest decline of 17.2% that year.

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

From 2017 to 2020, Bosnia and Herzegovina, Montenegro, and Hungary were the key partners for Serbia's treenuts exports in volume terms. Bosnia and Herzegovina accounted for 46.4% of exports, Montenegro for 26.5%, and Hungary for 7.1%. Together, these three countries represented 80.1% of Serbia's total treenuts export flows.

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

Serbia's treenuts export value continued to rise for the second year in a row in 2020. Exports totaled 1 598 thousand US dollars, a 46.4% increase from 2019. Between 2017 and 2020, export value grew by 13.5%, averaging 4.3% annually. The lowest value was recorded in 2018 at 924 thousand US dollars, with the most substantial decline of 34.4% also occurring that year.

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

During the 2017-2020 period, Montenegro, Bosnia and Herzegovina, and Hungary were the three principal markets for Serbia's treenuts exports in value terms. Collectively, they accounted for 76.2% of Serbia's total treenuts export value.

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

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

Imports treenuts to Serbia

Imports in kind, t

Serbia's treenuts import volume increased for the third consecutive year in 2020. Imports amounted to 3 466 tonnes, up 8.1% from the previous year. From 2017 to 2020, import volume grew by 50.2%, with a compound annual growth rate of 14.5%.

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

In the 2017-2020 period, the United States, Turkey, and Indonesia were the main sources of treenuts imports to Serbia in volume terms. The United States contributed 22.3% of imports, Turkey 22.2%, and Indonesia 18.3%. Together, these three countries accounted for 62.8% of Serbia's total treenuts import flows.

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

Serbia's treenuts import value rose for the third year in a row in 2020. The country imported 16 570 thousand US dollars worth of treenuts, a 7.6% increase compared to 2019. Between 2017 and 2020, import value increased by 43.8%, averaging 12.9% annually.

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

From 2017 to 2020, Turkey, the United States, and Vietnam were the primary suppliers of treenuts to Serbia in value terms. Turkey accounted for 29.8% of imports, the United States for 29.1%, and Vietnam for 9.6%. These three countries jointly represented 68.5% of Serbia's total treenuts import value.

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

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