Serbia Farm Producer Prices Fall 1.2% as Fruit Gains Offset Crop and Livestock Weakness

Serbia’s agricultural producer prices continued to decline in April 2026, with farmgate prices for agricultural and fishing products falling 1.2% year-on-year. The decline extended the negative trend recorded since the start of the year, with average producer prices for the January–April 2026 period decreasing 2.6% compared with the same period in 2025.

The latest figures show a widening gap between agricultural sectors, with cereals, livestock and dairy products facing weaker pricing conditions, while fruit producers recorded significant increases. The overall market is being shaped less by a single price direction and more by strong differences between individual product groups.

Cereals and animal products remain under pressure

The largest downward contribution to the annual producer-price index came from cereals, animals and animal products. Cereal prices were 1.7% lower compared with April 2025, while animal prices declined 3.5%. Prices of animal products dropped 4.6% year-on-year, adding further pressure on agricultural producers exposed to these segments.

Within cereal production, wheat experienced a significant decline. The wheat price index stood at 89.9 compared with April 2025. Maize, showed greater stability, with its index reaching 101.9, slightly above the level recorded a year earlier. The different performance of wheat and maize reflects varying market conditions across Serbia’s main crops, including differences in producer income potential, storage requirements and export exposure.

Livestock market shows uneven pricing trends

The livestock sector recorded continued weakness, although individual categories moved in different directions. Pig prices showed the strongest decline, with the annual index at 90.1 compared with April 2025. Poultry prices were also lower, with an index of 94.9. Cattle prices moved against the broader livestock trend, reaching an index of 115.4 year-on-year. The divergence indicates that pricing conditions within Serbia’s meat sector are becoming increasingly differentiated, with cattle producers experiencing stronger market conditions than pig and poultry producers.

Animal products also showed mixed results. Milk prices declined significantly, with an annual index of 90.3, while egg prices increased strongly to an index of 121.1. The contrasting movement highlights different supply and demand conditions across food categories. Lower milk prices create additional pressure for dairy producers due to continuous production costs, while higher egg prices indicate stronger pricing conditions in that segment.

Fruit prices provide strongest market support

Fruit production represented the strongest positive segment in April’s agricultural price data. Fruit prices increased 31.0% compared with April 2025 and rose 8.2% compared with March 2026. The fruit growing and viticulture category recorded an annual index of 131.0.

The increase contrasts sharply with weaker prices for cereals, pigs and milk, creating a divided agricultural market where producers face significantly different revenue conditions depending on their product focus.

Monthly data show early seasonal recovery

Although annual comparisons remained negative, the monthly movement in April showed some improvement. Producer prices for agricultural and fishing products increased 0.3% compared with March 2026. The main contributors to the monthly increase were animal prices, which rose 4.1%, and fruit prices, which increased 8.2%.

The monthly improvement suggests that some agricultural categories may have begun a seasonal adjustment after weaker conditions earlier in the year, although the overall annual trend remains negative.

Four-month results highlight industrial crop weakness

The cumulative January–April 2026 data indicate that Serbian agricultural producers continued to face lower average prices than in the previous year.

During the first four months of 2026, producer prices were 2.6% lower than in the same period of 2025.

The largest declines were recorded in:

• industrial crops, down 11.9%;
• animal products, down 5.2%;
• cereals, down 2.3%.

The decline in industrial crops represents the most significant weakness in the four-month comparison and could affect production planning, input purchasing decisions and working-capital requirements ahead of the next agricultural cycle.

Price differences reshape market conditions

The April data indicate that Serbia’s agricultural sector is experiencing a period of uneven price adjustment rather than a uniform decline. While fruit prices increased strongly, cattle prices remained firm and egg prices moved higher, other major categories including wheat, pigs, milk, vegetables and industrial crops continued to face downward pressure.

For food processors, the mixed pricing environment creates both cost benefits and procurement challenges. Lower prices for cereals, milk and pig products may reduce input expenses in some segments, while higher fruit and cattle prices could increase sourcing costs elsewhere. Final consumer prices will continue to depend on additional factors including processing expenses, logistics, labour costs, energy prices and retail margins.

Producer margins remain key concern

For agricultural companies and individual producers, changes in output prices remain closely linked to production costs, yields, financing expenses and contractual arrangements. Lower farmgate prices may not necessarily improve profitability if producers continue facing high costs for fuel, fertiliser, animal feed, labour and credit. This is particularly relevant for livestock and dairy operations, where production requires continuous expenditure and cannot easily be suspended.

The April figures show a Serbian agricultural market undergoing selective repricing. The overall producer-price index remains below last year’s level, but the internal structure is increasingly divided between stronger-performing sectors such as fruit and cattle, and weaker segments including wheat, pigs, milk and industrial crops.