The price of wheat in Serbia will most likely fall

We expect a turning point in the world market in April or May and that the price of wheat will start to “return to normal”, and we also believe that wheat will produce extremely well in our country this year, so its price should fall between May and harvest, the president of the Union of Bakers of Serbia, Zoran Pralica, told FoNet.
Commenting on the price of bread, Pralica pointed out that bakers from Commodity Reserves received the first part of the agreed support in December, when they were allowed to buy flour from Commodity Reserves at a subsidized price of 0.3 euro cents per kilogram with VAT.
“It is about 30,000 tons of wheat, or 20,000 tons of flour, which is enough for three months of production of bread from flour type 500 at a price of up to 0.4 euro cents,” said Pralica and stressed that bakers expect a “second round” of support in February.
“We hope that the support will be similar, so that we can ‘cover’ the second half of February, March and April until May 15, while the Decree on the maximum retail price of 500-type bread lasts,” says Pralica.
He adds that, in all likelihood, more bakers will apply for the “second round” of support, because many were “skeptical” so they did not apply in November, but that they started calling when they saw that the state met everyone’s needs.
“In any case, there is enough bread at a price of up to 0.4 euro cents, and the market is almost 100% covered,” Pralica concluded.
The Government of Serbia adopted the Decree on obligatory production and trade of T-500 flour bread on November 9, thus limiting the retail price of flour of this type to a maximum of 0.4 euros cents in the next six months with the possibility of extension, N1 reports.