Serbia’s grain industry to benefit from IGC membership – EBRD, FAO

The European Bank for Reconstruction and Development (EBRD) and the Food and Agriculture Organization of the United Nations (FAO) said they expect that Serbia's membership in the International Grains Council (IGC) will boost the country's visibility as a grain producer.

Earlier this month, IGC confirmed that its members agreed to Serbia’s accession with effect from April 1. The Council’s goals are to advance international cooperation in the grain trade and to improve market transparency. 

Serbia's accession to IGC is a major step towards its full integration into international markets, the EBRD said in a statement on Wednesday. 

"The country is already a major regional exporter thanks to the quality of its grain and its central position on pan-European transport links. IGC membership will now provide a further boost," Miljan Zdrale, EBRD Regional Head of Agribusiness, Central and South-Eastern Europe, said.

The country produced 7.5 million tonnes of maize and 2.5 million tonnes of wheat in the 2019-20 marketing year. It exports on average 2.5 million tonnes of maize each year, the bank noted.

"Thanks to continued dialogue, Serbia has been able to harmonise phytosanitary standards with international quality standards and open up new markets, most notably in Egypt," Wafaa El Khoury, FAO Investment Centre Service Chief, said.

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