Report Update: May 1, 2024

Serbia - Lucerne (Alfalfa) Meal And Pellets - Market Analysis, Forecast, Size, Trends And Insights

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Price for Lucerne Meal and Pellets in Serbia - 2023

Price for Lucerne Meal and Pellets in Serbia (FOB) - 2022

The average lucerne meal and pellets export price stood at $296 per ton in 2022, almost unchanged from the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 51% against the previous year. The export price peaked at $322 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to 0.0% per year.

Price for Lucerne Meal and Pellets in Serbia (CIF) - 2022

The average lucerne meal and pellets import price stood at $350 per ton in 2022, rising by 31% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($1,547 per ton), while the price for Croatia ($287 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Lucerne Meal and Pellets in Serbia

In 2022, shipments abroad of lucerne (alfalfa) meal and pellets decreased by 0% to 7.3K tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 2,400%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, lucerne meal and pellets exports amounted to $2.1M in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 3,675%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Export of Lucerne Meal and Pellets in Serbia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	N/A	N/A	N/A	2.1	0%
Others	N/A	N/A	N/A	N/A	0%
Total	N/A	N/A	N/A	2.1	0%

Top Export Markets for Lucerne Meal and Pellets from Serbia in 2022:

United Arab Emirates (7.2K tons)

Imports of Lucerne Meal and Pellets in Serbia

In 2022, supplies from abroad of lucerne (alfalfa) meal and pellets decreased by -7.5% to 1.5K tons, falling for the second year in a row after two years of growth. In general, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 7.9% against the previous year. As a result, imports attained the peak of 1.7K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, lucerne meal and pellets imports soared to $520K in 2022. The total import value increased at an average annual rate of +9.6% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Lucerne Meal and Pellets in Serbia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hungary	328	360	307	214	-13.3%
Croatia	N/A	N/A	33.9	142	318.9%
Italy	66.7	66.4	55.2	74.2	3.6%
Czech Republic	N/A	N/A	33.3	55.3	66.1%
Germany	N/A	N/A	N/A	35.6	0%
Others	0.4	0.6	0.3	N/A	-13.4%
Total	395	427	430	520	9.6%

Top Suppliers of Lucerne Meal and Pellets to Serbia in 2022:

Hungary (589.7 tons)
Croatia (493.4 tons)
Czech Republic (192.6 tons)
Italy (188.2 tons)
Germany (23.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for lucerne meal and pellets in Serbia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 0862 -

Country coverage:

Serbia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Serbia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023