Serbia to Barter Wheat, Corn for Fertilizers From Iran

BELGRADE (Sputnik) - Serbia will receive fertilizers from Iran bartered for wheat and corn, which it hopes would reduce the price of fertilizers for agricultural producers, Serbian President Aleksandar Vucic said.

"Do you know how many times we have heard the stories about the price of fertilizer? Now we are going to work with Iran on a barter basis. We give them wheat and part of the corn and they give us fertilizers, to ensure cheaper fertilizers for agricultural producers," Vucic told Serbian channel TV Pink on Tuesday.

Vucic expects wheat and vegetable oil to soon become "the biggest problem" for Europe and the world. He cited 25% to 30% of the wheat crop destroyed in India by heat and about 30% of the crop destroyed in Argentina as well, even though it is located in a different hemisphere. He said the United States and Canada too are having "terrible" harvest this year.

Vucic was among the first to raise alarm about the threats posed to global food security by conflict in Ukraine.

Serbia produced 3.5 million tons of wheat in 2021, of which a little more than 1.5 million tons are required for its own needs and replenishment of the seed fund, while the rest is being exported, according to the Serbian statistics office. On March 10, the country's government introduced a temporary ban on the export of wheat, wheat flour, corn and vegetable oil, but a month later replaced the ban on export quotas of 220,000 tons of wheat and 23,000 tons of wheat flour.

The UN World Food Programme has issued multiple warnings that continuing hostilities in Ukraine drive food prices up and risk global hunger, as the Black Sea basin is one of the most important regions for the production of grain and agricultural products. Ukraine and Russia account for an estimated 30% of global exports of wheat, 20% of global exports of maize, and 76% of sunflower.