Shrimp Price in Hungary - 2023

Contents:

1. Shrimp Price in Hungary (CIF) - 2023
2. Shrimp Price in Hungary (FOB) - 2022
3. Shrimp Imports in Hungary
4. Shrimp Exports in Hungary

Shrimp Price in Hungary (CIF) - 2023

In May 2023, the average shrimp import price amounted to $11,425 per ton, approximately equating the previous month. Over the period from May 2022 to May 2023, it increased at an average monthly rate of +1.5%. The pace of growth was the most pronounced in April 2023 when the average import price increased by 39% against the previous month. The import price peaked in May 2023.

There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was India ($39,570 per ton), while the price for Portugal ($3,741 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Shrimp Price in Hungary (FOB) - 2022

The average shrimp export price stood at $11,731 per ton in 2022, surging by 7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. Over the period under review, the average export prices reached the peak figure at $12,510 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Croatia ($19,142 per ton), while the average price for exports to Slovakia ($10,749 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 Croatia (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Shrimp Imports in Hungary

After three years of growth, supplies from abroad of shrimps decreased by -21.6% to 758 tons in 2022. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 20% against the previous year. As a result, imports reached the peak of 966 tons, and then declined sharply in the following year.

In value terms, shrimp imports fell rapidly to $7.5M in 2022. The total import value increased at an average annual rate of +4.6% 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 when imports increased by 30%. As a result, imports reached the peak of $9.1M, and then dropped markedly in the following year.

Top Suppliers of Shrimp to Hungary in 2022:

1. France (267.4 tons)
2. Netherlands (114.1 tons)
3. Denmark (98.1 tons)
4. Germany (51.6 tons)
5. Spain (41.9 tons)
6. Vietnam (38.4 tons)
7. Slovenia (38.2 tons)
8. Slovakia (24.3 tons)
9. Belgium (19.4 tons)
10. Czech Republic (14.2 tons)
11. Poland (12.4 tons)

Shrimp Exports in Hungary

In 2022, approx. 52 tons of shrimps were exported from Hungary; picking up by 28% against the previous year's figure. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 113% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, shrimp exports surged to $616K in 2022. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 169%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Top Export Markets for Shrimp from Hungary in 2022:

1. Croatia (undefined tons)
2. Austria (26.9 tons)
3. Slovakia (18.5 tons)
4. Romania (6.4 tons)