Pellet Price Hits 350 Euros a Ton in Serbia
Pellet prices in Serbia climbed to 350 euros a ton by the end of August, a record since the fuel began being produced. Firewood remains cheaper, though its price is rising too ahead of the season.
A ton of wood pellets in Serbia reached 350 euros by late August 2026, the highest price since the country began producing and selling the fuel. The price was confirmed on August 31 to Nova ekonomija by Branko Glavonjic, a full professor at the Faculty of Forestry in Belgrade, a month before the official start of the heating season.
A comparison with earlier periods shows how fast the increase has been. In June 2026, a ton of pellets cost 320 euros, roughly matching the peak price from last year’s heating season, when pellets are typically at their most expensive. A year earlier, in June 2025, the same ton cost 230 euros. The rise from 230 to 350 euros over twelve months works out to about 52 percent, according to Nova ekonomija, though some readers commenting on the article have disputed that math and cited their own experience buying pellets at different prices.
At retail, a ton of pellets in Serbia ranges from 38,000 to 44,000 dinars, and some listings go as high as 47,000 dinars. The price also depends on the city: in Belgrade and Novi Sad a ton costs between 42,000 and 44,000 dinars, while it is cheaper in Nis and Kragujevac, from 36,700 to 42,000 dinars. Nova ekonomija also notes that possible state intervention in the pellet market has been mentioned, though no concrete measures have been announced so far, nor any deadline for when they might take effect.
Why Can’t Factories Keep Up With Demand?
Glavonjic explains that factories are running at full capacity, but that still isn’t enough to cover demand. “The factories are working regularly, but they simply can’t make as much pellet as could be sold,” Glavonjic told Nova ekonomija.
According to him, demand is currently several times higher than domestic production, and retailers, based on information from the field, could sell up to three times the quantities that producers are actually delivering to them. Part of the pressure comes from buyers themselves: shoppers started stocking up as early as July and August instead of the usual October, having learned from last year’s delivery delays. Because of that, Glavonjic advises against buying at any price, since he expects the pressure on the market to ease over the next month.
A month earlier, the same professor told the same outlet the opposite: that there was enough pellet supply, that factories were running at full capacity, and that a realistic economic price should be between 35,000 and 38,000 dinars a ton, with an artificial shortage created by retailers. Today he talks about demand three times higher than production. The gap between those two assessments, made just a month apart, shows how hard it is to gauge the real state of the pellet market.
Is Firewood the Cheaper Option?
The price of firewood depends on the species and how processed it is, but per unit it remains lower than pellets. A cubic meter of beech, oak, black locust, Turkey oak or hornbeam averages between 6,500 and 12,000 dinars. In one listing, for example, dry firewood delivered to a home address in Belgrade is offered at 6,500 dinars per cubic meter, while another seller offers a 1.5 cubic meter pallet of beech at 13,500 dinars for thinner logs and 15,500 dinars for thicker ones. A pallet of kindling of the same volume costs 7,500 dinars. Suppliers have raised the price of split firewood by an additional 500 to 700 dinars per cubic meter since August.
Vera Raznatovic of the Association for Energy and Mining of the Serbian Chamber of Commerce (PKS) warns that the comparison shouldn’t stop at the price per ton or cubic meter:
Firewood can still be among the most affordable options, especially if it’s bought at a good price and if quality, dry wood is used in an efficient stove.
According to her, pellets cost more per unit than the cheapest firewood heating option, but they offer more comfort through automatic dosing, less ash and simpler maintenance, which for some households justifies the price difference. The Energy Agency of Serbia, based on earlier calculations, found that households that bought wood at good prices and used efficient stoves had the lowest heating costs last season among the fuels it observed.
How to Check Pellet Quality
Certification is the only way for a buyer to check whether a pellet meets the required standards. The list of certified producers is published by Jugoinspekt, and since October 2025 a Rulebook on Technical Requirements for Solid Fuels from Wood Biomass has been in force, requiring domestic and foreign producers to declare quality before placing pellets on the Serbian market. Lower quality pellets, Raznatovic warns, can contain more ash and moisture, which clogs the fuel feed system and puts extra strain on the boiler or stove.
The price gap between summer and winter pellets typically runs between 30 and 40 euros a ton, so buying off season remains the cheaper option, for both pellets and firewood. Whether August’s record price holds into the start of the heating season will depend on how quickly domestic producers can catch up on delayed deliveries.
