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Abstract
One of the biggest problems of agriculture in Serbia is an institutionally
undeveloped agricultural commodity market and inefficient resource allocation.
Although oligopsony is inevitable and sometimes even useful for the majority of
agricultural commodity markets, the crucial thing is that the government, due to its
undeveloped institutions, is unable to penalise market participants who abuse their
market position, and jeopardise competition by breaking contracts, operating in
„grey economy“, etc. Some of the main directions Serbia should take towards
promoting its agrarian market, include a shift from the grey market economy
towards legal channels, more efficient Competition Policy and promotion of legal,
judicial and executive branches of government.