Critical factors for risk reduction in the Serbian agri-food sector

Mihailović, Branko and Vuković, Predrag (2017) Critical factors for risk reduction in the Serbian agri-food sector. In: Risk in the food economy – theory and practice. Warsaw, Institute of Agricultural and Food Economics - National Research Institute, pp. 207-229. ISBN 978-83-7658-681-6

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Abstract

Climate change and uncertainties related to energy sector in terms of the high degree of globalization of markets can in a relatively short period of time cause a significant change in demand, scope and structure of agricultural production, causing both price volatility and threaten food security. The lack of predictability in the business of agri-food sector is conditioned by the lack of long-term contractual relationship between the food industry and manufacturers of raw materials, as well as lack of market integration, primary agricultural production and industry that the benefits for their input just agricultural products. Accordingly, the article analyses the key risks to which the group is exposed to the agri-food sector in Serbia. It is primarily about: institutional, financial, market, technical and operational risk. In article is shown the risk matrix in which are listed the specific risk events and their potential effects, the probability of the event, as well as the proposal of some of the key measures to overcome them.

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