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- Title
Economic Validity of Organic Ajvar (Vegetable Caviar) Production in Serbia.
- Authors
Đorđević, Teodora; Sredojević, Zorica
- Abstract
The focus of this paper is economic viability of organic ajvar (vegetable caviar) production in Serbia. Ajvar (vegetable caviar) is a relish or spread, a specialty of the Balkans, which is becoming increasingly popular in many markets with the growing demand for vegan, ethnic and organic food. This paper shows an organic market overview and a thorough case study based on data gathered by desk research and a two-phase survey. In the case study the focus was on static and dynamic financial indicators of economic viability of organic ajvar production. Based on the results of financial indicators it is proven that production of organic ajvar is very profitable, but the key prerequisite for profitability as was determined after the analysis of the break-even point -- is large scale production. Profitability is achieved at around 24 tons, which requires organized industrial production. Although the Serbian market has potential for this type of production, shortcomings such as fragmented market with a lot of small farms and farmers' mistrust in both the cooperation and the financial institutions have led to slow market development. Conclusions are summarized in the end with the aim of providing practical guidelines for the improvement of the organic market.
- Subjects
SERBIA; VEGETABLE processing; PROFITABILITY; RELISH (Condiment); SPREADS (Food); ORGANIC foods
- Publication
Economic Insights - Trends & Challenges, 2018, Vol 70, Issue 2, p11
- ISSN
2284-8576
- Publication type
Article