Serbia: Wheat Update

The wheat planting area for MY2023/24 is estimated at 725,000 HA, some 17 percent higher than previous marketing year. Overall production is estimated to be 3.6 MMT, which represents a 12.5 increase compared to MY2022/23. With domestic consumption of around 1.7 MMT, and huge beginning stocks of 1.2 MMT, Serbia will have 2.5 MMT of wheat available for export in MY2023/24. Serbia also started the MY2022/23 for wheat with larger ending stocks than usual, mostly due to the record-breaking crop in MY2021/22, and to a great extent the ban and export restrictions that significantly hindered regular export flows March-July 2022. Due to extremely high domestic wheat prices, ban and restrictions on exports in MY2022/23, Serbia will export maximum 750,000 MT.