Price for Cereal Groats and Meal; of Wheat in Hungary - 2023

Contents:

1. Price for Cereal Groats and Meal; of Wheat in Hungary (FOB) - 2023
2. Price for Cereal Groats and Meal; of Wheat in Hungary (CIF) - 2022
3. Exports of Cereal Groats and Meal; of Wheat in Hungary
4. Imports of Cereal Groats and Meal; of Wheat in Hungary

Price for Cereal Groats and Meal; of Wheat in Hungary (FOB) - 2023

In September 2023, the average export price for cereal groats and meal; of wheats amounted to $476 per ton, almost unchanged from the previous month. Overall, the export price, however, saw a perceptible reduction. The pace of growth appeared the most rapid in August 2023 an increase of 12% against the previous month. Over the period under review, the average export prices reached the maximum at $670 per ton in January 2023; however, from February 2023 to September 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In September 2023, the country with the highest price was Ukraine ($611 per ton), while the average price for exports to Bosnia and Herzegovina ($449 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (-2.6%), while the prices for the other major destinations experienced a decline.

Price for Cereal Groats and Meal; of Wheat in Hungary (CIF) - 2022

The average import price for cereal groats and meal; of wheats stood at $1,270 per ton in 2022, growing by 34% against the previous year. In general, the import price enjoyed a resilient increase. The growth pace was the most rapid in 2018 when the average import price increased by 128%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($2,432 per ton), while the price for Romania ($548 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cereal Groats and Meal; of Wheat in Hungary

For the third year in a row, Hungary recorded decline in overseas shipments of cereal groats and meal; of wheats, which decreased by -4.2% to 43K tons in 2022. Over the period under review, exports saw a abrupt decline.

In value terms, exports of cereal groats and meal; of wheats skyrocketed to $23M in 2022. The total export value increased at an average annual rate of +11.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 18% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Cereal Groats and Meal; of Wheat from Hungary in 2022:

1. Poland (13.1K tons)
2. Romania (9.1K tons)
3. Croatia (6.5K tons)
4. Slovenia (5.1K tons)
5. Czech Republic (3.5K tons)
6. Slovakia (2.3K tons)
7. Bosnia and Herzegovina (1.9K tons)

Imports of Cereal Groats and Meal; of Wheat in Hungary

After three years of growth, overseas purchases of cereal groats and meal; of wheats decreased by -43.2% to 283 tons in 2022. Over the period under review, imports, however, saw a measured increase. The pace of growth appeared the most rapid in 2020 with an increase of 46% against the previous year.

In value terms, imports of cereal groats and meal; of wheats dropped dramatically to $359K in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +10.9% 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 +36.3% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 34% against the previous year.

Top Suppliers of Cereal Groats and Meal; of Wheat to Hungary in 2022:

1. Germany (155.0 tons)
2. Austria (53.4 tons)
3. Italy (45.3 tons)
4. Slovakia (12.8 tons)
5. Switzerland (12.0 tons)

Source: IndexBox Market Intelligence Platform