Ban on corn, wheat exports extended for 3 months

The government last week extended its decision on a ban on all exports of corn and wheat for another 120 days. The ban is regulated via a decree on temporary limitation of exports of certain kinds of goods, adopted on August 3, which set the time period for the ban of exports of corn, wheat, soybean and sunflower to three months. Ban on corn, wheat exports extended for 3 months The justification for the move was the drought and poor harvest of crops, in order to secure market and prices stability. "The ban on exports of sunflower and soybean has been withdrawn since the entire yield of these crops has already been bought from farmers," Minister of Trade Predrag Bubalo told reporters in Belgrade. First indicators say that this year's harvest of corn will be significantly adversely affected by the droughts, while according to Bubalo, the decree will undergo minor changes, by excluding the term "ban" and introducing that of "quotas", but "since the quota will be at zero, the effect will be the same." The decree does not relate to sunflower cooking oil, the price of which went up to RSD 95 in August. Processing companies stand to benefit the most from the decree, while domestic farmers are the biggest losers, forced to sell their products in the domestic market. The largest part this year's harvest was sold in July before the prices of wheat, corn and sunflower went up.

Ban on corn, wheat exports extended for 3 months

The justification for the move was the drought and poor harvest of crops, in order to secure market and prices stability.

"The ban on exports of sunflower and soybean has been withdrawn since the entire yield of these crops has already been bought from farmers," Minister of Trade Predrag Bubalo told reporters in Belgrade.

First indicators say that this year's harvest of corn will be significantly adversely affected by the droughts, while according to Bubalo, the decree will undergo minor changes, by excluding the term "ban" and introducing that of "quotas", but "since the quota will be at zero, the effect will be the same."

The decree does not relate to sunflower cooking oil, the price of which went up to RSD 95 in August.

Processing companies stand to benefit the most from the decree, while domestic farmers are the biggest losers, forced to sell their products in the domestic market.

The largest part this year's harvest was sold in July before the prices of wheat, corn and sunflower went up.