Price for Flours and Meals; of Soya Beans in Hungary - 2023

Contents:

1. Price for Flours and Meals; of Soya Beans in Hungary (CIF) - 2023
2. Price for Flours and Meals; of Soya Beans in Hungary (FOB) - 2022
3. Imports of Flours and Meals; of Soya Beans in Hungary
4. Exports of Flours and Meals; of Soya Beans in Hungary

Price for Flours and Meals; of Soya Beans in Hungary (CIF) - 2023

The average import price for flours and meals; of soya beanses stood at $768 per ton in September 2023, increasing by 15% against the previous month. Over the period from November 2022 to September 2023, it increased at an average monthly rate of +2.8%. The import price peaked at $869 per ton in July 2023; however, from August 2023 to September 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Serbia.

From November 2022 to September 2023, the rate of growth in terms of prices for Italy amounted to +2.6% per month.

Price for Flours and Meals; of Soya Beans in Hungary (FOB) - 2022

In 2022, the average export price for flours and meals; of soya beanses amounted to $564 per ton, with an increase of 9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 66% against the previous year. As a result, the export price attained the peak level of $662 per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($736 per ton), while the average price for exports to Austria ($503 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+0.3%), while the prices for the other major destinations experienced a decline.

Imports of Flours and Meals; of Soya Beans in Hungary

In 2022, overseas purchases of flours and meals; of soya beanses decreased by -47.7% to 4.7K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 87% against the previous year.

In value terms, imports of flours and meals; of soya beanses dropped markedly to $2.8M in 2022. Over the period under review, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 88% against the previous year. As a result, imports reached the peak of $4.5M, and then reduced rapidly in the following year.

Top Suppliers of Flours and Meals; of Soya Beans to Hungary in 2022:

1. Slovenia (2741.5 tons)
2. Italy (1301.5 tons)
3. Serbia (294.9 tons)
4. Austria (150.0 tons)
5. Denmark (132.0 tons)
6. Slovakia (98.8 tons)

Exports of Flours and Meals; of Soya Beans in Hungary

In 2022, approx. 1.8K tons of flours and meals; of soya beanses were exported from Hungary; surging by 72% against the previous year's figure. Overall, exports, however, faced a abrupt decline. The growth pace was the most rapid in 2020 when exports increased by 127% against the previous year. As a result, the exports attained the peak of 7.9K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of flours and meals; of soya beanses soared to $1M in 2022. Over the period under review, exports, however, recorded a deep slump. The growth pace was the most rapid in 2020 when exports increased by 126% against the previous year. As a result, the exports attained the peak of $3.2M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Flours and Meals; of Soya Beans from Hungary in 2022:

1. Romania (1737.3 tons)
2. Slovakia (57.0 tons)
3. Czech Republic (9.0 tons)
4. Austria (0.3 tons)

Source: IndexBox Market Intelligence Platform