Export of corn in October and November reduced by 90%

Only a month after it was published that Serbia had been among the ten biggest exporters of grains in the world not too long before, the market sees a dramatic drop in demand for Serbia's corn by foreign customers.

This October and November, only 59,440 tons of corn was exported, mostly to the states of the region. What's worrying is that this amount is as much as 90% lower compared to the corresponding period of 2016, when the country exported around 569,000 tons of corn.

– This fact alone speaks to the lack of price competitiveness of local corn in the world market – the Novi Sad Commodity Exchange announced.

Another reason for the drop is the fact that, due to the drought, Serbia's export of this agricultural product will amount to only 850,000 in 2017, three times less than last year.

– Due to these problems, Serbia has lost the position of the eighth biggest global exporter of corn and is sure not to be among the biggest ones this year – Vukosav Sakovic of the Serbian Grains Association confirmed.

The total revenues from this product, which has been the most important agrarian product in Serbia for years, are also in question. In the record-setting year 2016, the exports of corn amounted to USD 346 million.

Žita Srbije Beograd

Produktna Berza Novi Sad

Novi Sad Commodity Exchange

export of corn

corn

production of corn

export of grains

production of grains

Vukosav Sakovic

corn yield

price of corn