Serbia: The price of soybeans at a historic high

Published 2021년 6월 18일

Tridge summary

In Serbia, the prices of key crops like soy beans and grain corn have seen a significant increase compared to the previous year, with soy beans reaching €0.8/kg, a double from 2020, and corn at €0.22/kg, equaling a decade-old high. This price hike, attributed to the global pandemic, is expected to persist until next year, affecting not just these crops but also wheat, sunflower, cooking oil, and margarine. The rise in prices for feed crops is particularly challenging for livestock farmers due to the increased cost of corn and soybeans, exacerbated by cheap imported meat. Additionally, the cost of spring sowing in Serbia has increased by 20% in 2021, with seed and fertilizer becoming more expensive.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In Serbia, there has been no example so far of buyers paying €0.8/kg for soy beans – Until now. The price this year is almost twice as high as it was in 2020. Growers are in no hurry to sell, preferring to hold the produce back, hoping its price will rise further. Soy bean is not the only crop which drastically increased in value this year. The price of grain corn rose by 73% in one year. Today €0.22/kg is the price of corn, which means that the price has risen back to where it was 10 years ago. According to agricultural economists, the rise in prices since the autumn is still not over, and this also applies to the prices of wheat, corn, sunflower, cooking oil and margarine. Cooking oil currently costs €1.5 per liter in stores. According to Serbian agricultural economists, the increase in demand for raw food materials is due to the worldwide fear of the coronavirus pandemic. As a result, the developed countries of the world have started to build up stocks again, leading to an ...

Source: Agroberichtenbuitenland