Price for Food Preparations Not Elsewhere Specified or Included in Hungary - 2023
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Hungary (FOB) - 2023
- Price for Food Preparations Not Elsewhere Specified or Included in Hungary (CIF) - 2023
- Exports of Food Preparations Not Elsewhere Specified or Included in Hungary
- Imports of Food Preparations Not Elsewhere Specified or Included in Hungary
Price for Food Preparations Not Elsewhere Specified or Included in Hungary (FOB) - 2023
The average export price for food preparations not elsewhere specified or included stood at $7,978 per ton in November 2023, increasing by 3% against the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.7%. The growth pace was the most rapid in January 2023 when the average export price increased by 22% against the previous month. The export price peaked at $9,118 per ton in April 2023; however, from May 2023 to November 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Italy ($21,514 per ton), while the average price for exports to Saudi Arabia ($3,358 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Hungary (CIF) - 2023
The average import price for food preparations not elsewhere specified or included stood at $5,306 per ton in November 2023, surging by 13% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 22% against the previous month. Over the period under review, average import prices hit record highs at $6,110 per ton in September 2023; however, from October 2023 to November 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Cyprus ($8,408 per ton), while the price for Thailand ($2,224 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Serbia (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Food Preparations Not Elsewhere Specified or Included in Hungary
For the fourth year in a row, Hungary recorded growth in shipments abroad of food preparations not elsewhere specified or included, which increased by 6.2% to 65K tons in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 131%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, exports of food preparations not elsewhere specified or included amounted to $446M in 2022. The total export value increased at an average annual rate of +8.7% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 13%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.
| Export of Food Preparations Not Elsewhere Specified or Included in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 31.6 | 35.4 | 38.0 | 40.4 | 8.5% |
| Romania | 35.5 | 30.3 | 36.1 | 32.5 | -2.9% |
| United Kingdom | 15.6 | 21.5 | 29.3 | 30.2 | 24.6% |
| Italy | 22.7 | 29.3 | 32.0 | 29.6 | 9.3% |
| Iraq | 16.8 | 26.0 | 22.8 | 28.8 | 19.7% |
| Poland | 19.0 | 18.7 | 30.6 | 28.8 | 14.9% |
| France | 16.8 | 15.8 | 17.9 | 21.5 | 8.6% |
| Serbia | 11.7 | 12.9 | 16.6 | 20.9 | 21.3% |
| Slovakia | 25.7 | 21.3 | 23.8 | 16.2 | -14.3% |
| Russia | 10.2 | 11.2 | 15.9 | 16.0 | 16.2% |
| Czech Republic | 20.7 | 12.2 | 9.6 | 12.2 | -16.2% |
| Austria | 10.9 | 10.1 | 10.9 | 11.6 | 2.1% |
| Saudi Arabia | 5.9 | 8.3 | 9.6 | 9.9 | 18.8% |
| Others | 104 | 140 | 145 | 147 | 12.2% |
| Total | 347 | 393 | 438 | 446 | 8.7% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Hungary in 2022:
- Iraq (7.8K tons)
- Germany (6.9K tons)
- Romania (5.8K tons)
- United Kingdom (4.6K tons)
- Slovakia (3.9K tons)
- Serbia (3.8K tons)
- Poland (3.6K tons)
- Saudi Arabia (3.5K tons)
- Russia (1.9K tons)
- France (1.7K tons)
- Austria (1.7K tons)
- Italy (1.6K tons)
- Czech Republic (1.6K tons)
Imports of Food Preparations Not Elsewhere Specified or Included in Hungary
For the fourth year in a row, Hungary recorded growth in overseas purchases of food preparations not elsewhere specified or included, which increased by 12% to 83K tons in 2022. In general, imports posted significant growth. The growth pace was the most rapid in 2020 with an increase of 319% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of food preparations not elsewhere specified or included reached $392M in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.
| Import of Food Preparations Not Elsewhere Specified or Included in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 72.8 | 68.4 | 75.5 | 96.7 | 9.9% |
| Poland | 28.4 | 32.3 | 41.9 | 54.6 | 24.3% |
| Netherlands | 45.0 | 47.2 | 48.2 | 52.9 | 5.5% |
| Thailand | 0.1 | 0.3 | 0.1 | 22.2 | 505.5% |
| Austria | 17.3 | 18.7 | 20.4 | 21.5 | 7.5% |
| France | 20.0 | 17.9 | 19.9 | 18.6 | -2.4% |
| Slovakia | 19.3 | 15.4 | 19.9 | 17.4 | -3.4% |
| Italy | 36.2 | 18.4 | 18.7 | 16.7 | -22.7% |
| Czech Republic | 17.1 | 13.8 | 17.4 | 16.7 | -0.8% |
| United Kingdom | 15.0 | 11.2 | 6.8 | 9.1 | -15.3% |
| Belgium | 11.1 | 5.5 | 7.0 | 8.1 | -10.0% |
| Spain | 4.3 | 2.0 | 4.4 | 4.6 | 2.3% |
| Malaysia | 7.3 | 5.4 | 13.3 | 4.1 | -17.5% |
| Others | 59.3 | 62.9 | 80.9 | 49.3 | -6.0% |
| Total | 353 | 319 | 375 | 392 | 3.6% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Hungary in 2022:
- Germany (17.7K tons)
- Poland (11.6K tons)
- Netherlands (9.2K tons)
- Thailand (8.3K tons)
- Austria (6.4K tons)
- Slovakia (5.2K tons)
- Italy (4.8K tons)
- France (3.7K tons)
- Czech Republic (3.1K tons)
- United Kingdom (2.1K tons)
- Belgium (2.1K tons)
- Spain (1.6K tons)
- Malaysia (1.1K tons)
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