Price for Cereal Flour; of Maize (Corn) in Hungary - 2023

Contents:

1. Price for Cereal Flour; of Maize (Corn) in Hungary (FOB) - 2023
2. Price for Cereal Flour; of Maize (Corn) in Hungary (CIF) - 2022
3. Exports of Cereal Flour; of Maize (Corn) in Hungary
4. Imports of Cereal Flour; of Maize (Corn) in Hungary

Price for Cereal Flour; of Maize (Corn) in Hungary (FOB) - 2023

The average export price for cereal flour; of maize (corn) stood at $586 per ton in June 2023, which is down by -2.8% against the previous month. Overall, export price indicated a measured increase from June 2022 to June 2023: its price increased at an average monthly rate of +3.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, cereal flour; of maize (corn) export price increased by +8.7% against April 2023 indices. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 17% m-o-m. The export price peaked at $603 per ton in May 2023, and then declined in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was the UK ($762 per ton), while the average price for exports to Poland ($446 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cereal Flour; of Maize (Corn) in Hungary (CIF) - 2022

The average import price for cereal flour; of maize (corn) stood at $1,252 per ton in 2022, growing by 5.5% against the previous year. In general, the import price, however, continues to indicate a abrupt descent. The growth pace was the most rapid in 2017 when the average import price increased by 159% against the previous year. The import price peaked at $6,611 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($2,263 per ton), while the price for Poland ($1,152 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cereal Flour; of Maize (Corn) in Hungary

In 2022, overseas shipments of cereal flour; of maize (corn) decreased by -14.4% to 5.6K tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 92%. As a result, the exports reached the peak of 11K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cereal flour; of maize (corn) exports surged to $2.3M in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -12.2% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 74% against the previous year. As a result, the exports attained the peak of $2.6M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Cereal Flour; of Maize (Corn) from Hungary in 2022:

1. Germany (3243.9 tons)
2. United Kingdom (742.4 tons)
3. Poland (720.9 tons)
4. Belgium (320.0 tons)
5. France (221.4 tons)
6. Thailand (176.0 tons)
7. Lithuania (94.0 tons)
8. Romania (22.3 tons)

Imports of Cereal Flour; of Maize (Corn) in Hungary

In 2022, the amount of cereal flour; of maize (corn) imported into Hungary surged to 165 tons, increasing by 24% on the previous year. Overall, imports, however, saw a abrupt decrease.

In value terms, cereal flour; of maize (corn) imports soared to $207K in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cereal Flour; of Maize (Corn) to Hungary in 2022:

1. Austria (135.1 tons)
2. Germany (11.7 tons)
3. Poland (9.8 tons)
4. Czech Republic (4.1 tons)
5. Netherlands (2.4 tons)

Source: IndexBox Market Intelligence Platform