Private Sector

scheme, greater support for micro-, small- and medium-sized enterprises and invitations for American investments in the country.

6) Unused IPARD funds could have to be returned

September 22nd, 2020, https://www.novosti.rs/vesti/ekonomija/919662/

Of the EUR 175 million in IPARD funds intended for the 2014-2020 period, only EUR 7.5 million have been spent. This has led to the very real possibility that much of the funds will have to be returned. Although interest in the program funds has picked up in the last two years, many (including IPARD representatives) note that progress in this direction has been slow. There have also been discussions to reallocate funds to other measures with greater interest.

7) Free trainings on business plan development offered under SRFP

September 9th, 2020, https://agrosmart.net/2020/09/09/srfp-besplatne-obuke

Farmers, entrepreneurs and representatives of small- and medium-sized enterprises received free online trainings to help them develop their businesses and access new sources of financing. The trainings, offered under the KfW-funded Development of Financial Systems in Rural Areas in Serbia Program (SRFP), were developed by Swiss consulting company Business \u0026 Finance Consulting (BFC) in partnership with local Smart IPARD and Eduka Plus.

8) IPARD Measure 7 application call extended

September 6th, 2020, http://subvencije.rs/uncategorized/ipard-mera-7-podsticaji-za-seoski-turizam/

The deadline for the submission of IPARD applications for funding under Measure 7 (farm diversification and business development) has been extended through October 31, 2020 due to the ongoing COVID-19 pandemic. To qualify under the program, a person must be registered in the Registry of Agricultural Holdings with an active status and classified as a micro- or small-sized legal entity. Measure 7 provides up to EUR 50,000 for simple business plan investments and up to EUR 300,000 for complex business plan investments. Successful applicants will also have to demonstrate own contributions of at least 35% of the total investment costs.

Private Sector

9) Average production from Serbia’s agricultural sector predicted this year

September 24th, 2020, http://www.politika.rs/scc/clanak/463180/

Experts are forecasting an average year for Serbian agricultural production this year. At the same time, the financial results for producers are expected to be greater than average due to market conditions and rising prices, especially for the main crops of corn, wheat, sunflowers and soybeans.

10) 30-40% of Serbian farms rely on some digital technology

September 17th, 2020, http://www.agronews.rs/svako-trece-gazdinstvo-u-srbiji-digitalizovano/

Preliminary results of the EUR 28 million Antares Project, which aims to increase the use of digital technologies in the agricultural sector, indicate that approximately 30-40% of domestic farmers already rely on some kind of digital technology. This is an encouraging sign that a large number of medium-sized producers understand how the use of new technologies can improve yields and quality while also reducing costs and mitigating the effects of climate change.

11) 2020 expected to be a great year for corn

September 12th, 2020, http://rs.n1info.com/Biznis/a639000/

Agriculture Minister Branislav Nedimovic has stated that the value of this year’s corn harvest is expected to be EUR 1 billion, a banner year for the crop. This estimate is based on an expected average yield of 8 tons per hectare, 10% more than last year. Nedimovic went on to explain that there have been problems with this year’s peach and apricot harvests, although all other varieties of fruit are doing well.

12) Fruit yields down significantly

September 11th, 2020, http://www.agronews.rs/podbacio-ovogodisnji-rod-voca/

The Serbian Chamber of Commerce is forecasting that this year's fruit yields will be between 1.2 and 1.3 million tons, down from last year's 1.6 million tons. The decline in overall production is primarily due to less-than-ideal weather conditions. While some fruit yields remain relatively unaffected (e.g. apples), others (e.g. plums and grapes) are facing significant declines (20-30% for plums and up to 50% for grapes). It should be noted that a period of sun at the end of September is expected to slightly help grape yields in unharvested areas.

13) Agricultural product prices up 10.3%

September 11th, 2020, https://agrosmart.net/2020/09/11/voce-poskupelo-38-odsto-u-odnosu-na-proslu-godinu/

According to the data published by the Bureau of Statistics, the prices of many agricultural products have increased this year by an average of 10.3% year-on-year. The largest price increases were seen with fruits (up 38.0% year-on-year) and industrial plants (up 8.5% year-on-year).

14) Sales of agricultural products down in the second quarter

September 1st, 2020, https://www.novosti.rs/vesti/ekonomija/913714

Sales of agricultural, forestry and fishery products feel by 2.5% year-on-year in the second quarter of this year. At the same time, the total value of sales of agricultural, forestry and fishery products through the first half of the year is 4.1% higher year-on-year.

Prepared by Business & Finance Consulting (BFC) www.bfconsulting.com Articles are taken directly from local sources without any fact-checking; they are provided as a convenience and for informational purposes only. Business & Finance Consulting (BFC)’s editing is limited to providing a short summary in English of the texts, highlighting the main points of the original articles. All rights reserved by the authors. BFC takes no responsibility and does not make any representation or warranty, express or implied, or assume any responsibility whatsoever for the content, accuracy, and reliability, or completeness of any of the articles.