New law allows trade with grains at the market exclusively – Agriculturists equal participants in trade

Agriculturists in Serbia, cooperatives and farms, will no longer be able to sell their goods through agencies and companies which used to mediate in trading with grains, as the Law on Goods Markets has come into effect, according to which no institution that is not registered as a market can carry out such activities any longer, Vecernje Novosti reports.

– From now on, everyone who wants to trade, put up prices, needs to register as a market. There have to be rules, a minimum of capital, brokers – the director of the Novi Sad Goods Market, Milos Janjic, said for Novosti.

He added that agriculturists could also be equal participants in the trade, and not just large companies.

Janjic said that the new law mostly pertained to those who organize the market, so that they would be made responsible.

As he explained, when someone is selling 100 tons of corn, there needs to be a guarantee that the goods will be delivered and that they will be of good quality, and the point of the market is for quality information to be available.

– The new law should raise the level of the market – Janjic said.

He also reminded that the National Bank of Serbia had taken part in the preparation of the law, as there had previously not been a regulation that would provide a mechanism of guarantee for trading on the market.

– Anyone who organizes a market needs to have special purpose accounts. When someone pays money for the goods, the money is there until the grains are delivered and their quality is checked. The money can't go to waste, as it stays here with us until the trade is over – Janjic said.

Produktna Berza Novi Sad

Narodna banka Srbije Beograd

Goods Market

National Bank of Serbia

Milos Janjic

trade with grains

Law on Goods Markets