Organic Agricultural Production

Photo by Unsplash / Milica Spasojevic

Photo by Unsplash / Milica Spasojevic

Organic Agricultural Production
SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Food and Beverage
Food and Agriculture
Business Model Description

Produce primary and processed high-valued organic goods which entails highly fertile soil land surface, organic production technology, machinery, and workforce, all supported by long-term contracts with buyers with the fulfilment of the conditions prescribed by the Law on Organic Production of the Republic of Serbia, Codex Alimentarius and EU regulations on control and certification in organic production, processing, labelling, storage, transportation, circulation, import and export of organic products. The result is high-quality organic products of plant and animal origin for domestic use and export.

Expected Impact

Ensure food security while promoting healthy soil and benefiting human and environmental well-being.

Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
5% - 10% (in ROI)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
USD 50 million - USD 100 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 500,000 - USD 1 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Zero Hunger (SDG 2) Responsible Consumption and Production (SDG 12)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Good health and well-being (SDG 3) Climate Action (SDG 13) Life on Land (SDG 15)
Sector Sources
  • 1) Ministry of Agriculture, Forestry and Fisheries - Agriculture and rural development strategy of the Republic of Serbia for the period of 2014-2024, 2014. 2) Situation Of Rural Women In Serbia Report, 2017. 3) SEEDEV, Sectoral analysis of production and processing fruit in the Republic of Serbia, 2020. 4) Serbia Organika, Plan for the development of organic production for the period 2021-2026, 2021. 5) Statistical Office of the Republic of Serbia, GDP, 2020. 6) The Global Food Security Index 2022, Country profile Serbia. 7) Country Profile SDG Serbia, 2022. 8) Keynote Address of Prime Minister Brnabic, 2020. 9) Ministry of Education, Science and Technological Development, Smart Specialization Strategy 2020 - 2027, 2021. 10) Ministry of Agriculture, Forestry and Water Management, National Program Of Rural Development For The Period 2022-2024, 2022. 11), Organic food exports in 2020 record EUR 37 million, 2021. 12) Agromedia, Advantages and disadvantages of organic farming, 2020. 13) OrgAdmin, The farm in Curug is proof that everything is possible without chemistry: these cows give only pure, organic milk. Organic, 2020. 14), Interreg IPA cross-border cooperation program Croatia - Serbia 2014-2020, n.d. -serbia-2014-2020/326 15) Milosavljevic, M., Medino Iz krnjeva opens new markets for the export of honey. Pluton Logistics, 2021. 16) Peterhof Consulting stakeholder consultations online on the 6th of February, 2023. 17) Agromedia, The highest costs in organic production, 2023. 18) Ecoagri Serbia, n.d. 19) Drenovac d.o.o, n.d. 20) Menex, n.d. 21) UNDP/ Peterhof stakeholder consultations, Ministry of Agriculture, Forestry and Water Management, on the 2nd of February, 2023.
IOA Sources
  • 21) Jovanovic, M, The largest organic farm of goats and sheep in the Balkans, 2015. 22) Serbia Organika, Organic production in Serbia, 2020. 23) Research Institute of Organic Agriculture FiBL, n.d. 24) Agroeconomics, Uncultivated agricultural land, 2014. 25) UNDP, Joint message on climate change: United Nations Development Programme, 2019. 26) Our World in Data, Ritchie, H., Roser, M., & Rosado, P., Serbia: CO2 Country Profile, 2020. 27) The economist, The Economist Newspaper, n.d. 28) Organic Vs. Conventional Food Economics, Externalities , n.d. 29) Serbia Organika, n.d. 30) Organic Agriculture, Food Security, and the environment, 2018. 31) The European Network for Rural Development (ENRD) - European Commission, PAPAKONSTANTINOU, A. Agronomic techniques for the reduction of Green House Gas (GHG) emissions in organic farming ,2021. 32) Land Portal, Agricultural Area Certified Organic, n.d. 33) Statistical Office of the Republic of Serbia, SDG Indicators, n.d. 34) The risk management of organic products along the value chain, 2014. 35) The Law on organic production, 17/2019. 36) Regulation on control and certification in organic production and organic production methods, 24/2021. 37) Ministry of Agriculture and Environmental Protection, The Rulebook on the documentation to be submitted to the Authorized Control Organization for issuance of certificates, as well as conditions and the way of selling organic products, 88/2016. 38) Serbia Organica, Foreign regulations and standards, n.d. 39) Portal of entrepreneurship, Incentives for organic livestock production, 2020. 40) Legal information system of RS, Regulation on the use of Incentives for Organic Plant Production: 31/2018-75, 23/2019-22, 20/2020-22, 44/2021-33, 50/2022-4, 139/2022-56. 41), n.d. 42) Manojlović M, Štrbac M, Ćirić V, Čabilovski R, Kovačević D, Petković K, The influence of organic and conventional agricultural production systems on soil quality, n.d. 43) Tabaković M, Simić M, Dragičević V, Brankov M, Organic production in Serbia, n.d. 44) OrgAdmin. The Significance and Place of Organic Production in Contemporary Society. Organic, n.d. 45) Serbia Organica, database, n.d.