Development of Commodity Exchanges in Function of Agribusiness in Serbia

Kovačević, Vlado and Vasilijević, Zorica (2017) Development of Commodity Exchanges in Function of Agribusiness in Serbia. In: International Scientific Conference Sustainable Agriculture and Rural Development in Terms of the Republic of Serbia Strategic Goals Realization Within the Danube Region: Development and Application of Clean Technologies in Agriculture. Institute of Agricultural Economics, Belgrade, pp. 430-445. ISBN 978-86-6269-056-2

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Abstract

This paper aims to determine the impact which developed commodity exchanges have to the improvement of agricultural products’ market in Serbia.There are two types of commodity-exchange markets; first, spot or daily trading which provides to participants in trading the purchase of agricultural products by transparent prices with safe delivery. Delivery of agricultural products on spot commodity-exchange is mostly done within several days. The second type of commodity-exchange operations is the commodity derivative market, where buying and selling of agricultural products is realized in a precise in the future. Spot market which operates within the only stock market in the Republic of SerbiaProduktna berza a.d. Novi Sad is poorly developed. Commodity derivative market has not been established in Serbia. According to the analyses done within this work, the underdeveloped commodity-exchange operations are the consequences of, first of all, inadequate legal framework, as well as the non-established preconditions in form of a common business environment, significant for operating of commodity exchanges. Development of commodity exchanges would contribute significantly to the improvement of agricultural products market, as well as the possibility to manage the risk in farmers’ business.

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