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March 11, 2022

Serbia joins agri-food export curbs in wake of Ukraine invasion

The European country has announced temporary bans on the export of a clutch of agri commodities.

By Dean Best

Serbia has introduced a “temporary” ban on the export of certain food commodities, becoming the latest country to introduce curbs after Russia’s invasion of Ukraine sparked spikes in prices.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

Belgrade has decided to halt the export of what it calls “basic agricultural food products important to the population” – wheat grain, wheat flour, corn, groats and sunflower oil.

The Serbian government said it had made the move “to respond in a timely manner to market disturbances and growing demand, both worldwide and domestic”.

The war in Ukraine, which has been known as the breadbasket of Europe, has pushed up the prices of a series of commodities.

According to the UN’s Food and Agriculture Organization, either Russia or Ukraine (or both) ranked among the top three global exporters of wheat, maize, rapeseed, sunflower seeds and sunflower oil in 2021. Russia is also the world’s top exporter of nitrogen fertilizers and the second-leading supplier of potassic and phosphorous fertilizers, FAO data shows.

Earlier this week, Ukraine decided to suspend the exports of certain agricultural commodities and introduce licences on the shipments of others out of the war-hit country.

Hungary has announced new controls on its exports of a range of commodities, including wheat, maize and soybeans.

In Asia, Indonesia announced plans to put restrictions on the trading of palm oil grown in the country. Exporters will have to keep back 30% of their volume for the Indonesian market, up from the current quota of 20%.

Just Food analysis: Ukraine-driven food inflation risks eroding Covid savings buffer for consumers

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For more on Just Food's coverage on how the conflict in Ukraine is affecting the food industry, please visit our dedicated microsite.

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Free Report
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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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