Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary - 2023

Contents:

1. Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary (FOB) - 2023
2. Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary (CIF) - 2023
3. Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary
4. Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary

Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary (FOB) - 2023

In October 2023, the average export price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $5,503 per ton, increasing by 38% against the previous month. Overall, the export price recorded a strong increase. The pace of growth appeared the most rapid in December 2022 an increase of 122% against the previous month. The export price peaked at $7,095 per ton in April 2023; however, from May 2023 to October 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Bosnia and Herzegovina ($16,086 per ton), while the average price for exports to Serbia ($1,561 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary (CIF) - 2023

In August 2023, the average import price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $3,222 per ton, with an increase of 110% against the previous month. In general, the import price showed a resilient expansion. Over the period under review, average import prices attained the maximum at $4,204 per ton in February 2023; however, from March 2023 to August 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Austria ($4,611 per ton), while the price for Germany ($2,234 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Slovakia (+27.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary

In 2022, approx. 799 tons of refined cane or beet sugar (with added flavoring or coloring matter) were exported from Hungary; rising by 35% against the previous year's figure. The total export volume increased at an average annual rate of +10.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) fell slightly to $2.4M in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 3.9%. As a result, the exports attained the peak of $2.4M, and then fell modestly in the following year.

Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from Hungary in 2022:

1. Denmark (200.8 tons)
2. Romania (173.4 tons)
3. Croatia (117.5 tons)
4. Germany (85.9 tons)
5. Slovenia (73.0 tons)
6. Netherlands (62.4 tons)
7. Slovakia (38.9 tons)

Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Hungary

For the fourth year in a row, Hungary recorded growth in supplies from abroad of refined cane or beet sugar (with added flavoring or coloring matter), which increased by 14% to 742 tons in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +14.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) reduced to $1.1M in 2022. The total import value increased at an average annual rate of +8.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23%. As a result, imports attained the peak of $1.2M, and then declined in the following year.

Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Hungary in 2022:

1. Slovakia (296.0 tons)
2. Germany (295.5 tons)
3. Austria (148.2 tons)
4. Czech Republic (0.4 tons)

Source: IndexBox Market Intelligence Platform