Serbia Sugar sector review
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Sugar beet is grown and processed in the Vojvodina province in the north of Serbia. Sugar production has increased dramatically over the last ten years and reached almost 500 000 tonnes in the 2010/11 crop year. The main reasons for this recovery are the privatization of the sugar sector and gaining preferential access to the European Union (EU) market, both of which occurred early in the last decade. Since then, the Serbian sugar industry has gained preferential access to markets in neighboring countries through the Central European Free Trade Area (CEFTA). The stimulus that these developments provided the sugar sector resulted in consolidation and efficiency gains in both beet production and beet processing. As a result, the sector now has a strong foundation upon which to build further. However, the fortunes of the sugar industry will depend largely on three factors: (i) the future level of world sugar prices (which will influence price levels in the Serb ia’s main markets), (ii) the price at which farmers will be willing to grow beets and (iii) its level of access to the EU.