Hungary: Almond Market 2024

Almond Market Size in Hungary

The Hungarian almond market was estimated at $X in 2021, flattening at the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Almond Production in Hungary

In value terms, almond production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 68%. Almond production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

The average yield of almonds in Hungary was estimated at X kg per ha in 2021, picking up by 1.6% against 2020. Over the period under review, the yield, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. The almond yield peaked at X kg per ha in 2015; however, from 2016 to 2021, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of almonds production in Hungary declined to X ha, shrinking by -1.6% on the year before. Over the period under review, the harvested area, however, recorded a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. The almond harvested area peaked at X ha in 2020, and then contracted slightly in the following year.

Almond Exports

Exports from Hungary

For the fourth consecutive year, Hungary recorded decline in overseas shipments of almonds, which decreased by -47.1% to X kg in 2021. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by 13% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, almond exports fell sharply to $X in 2021. Overall, exports showed a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 6.2%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X kg) was the main destination for almond exports from Hungary, with a 89% share of total exports. Moreover, almond exports to Romania exceeded the volume sent to the second major destination, Poland (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled -52.9%.

In value terms, Romania ($X) remains the key foreign market for almond exports from Hungary, comprising 87% of total exports. The second position in the ranking was taken by Poland ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Romania amounted to +67.2%.

Export Prices by Country

In 2021, the average almond export price amounted to $X per ton, declining by -21.5% against the previous year. In general, the export price, however, saw strong growth. The growth pace was the most rapid in 2020 an increase of 80% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined notably in the following year.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was Poland ($X per ton), while the average price for exports to Romania totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.1%), while the prices for the other major destinations experienced a decline.

Almond Imports

Imports into Hungary

In 2021, almond imports into Hungary reduced dramatically to X kg, shrinking by -40.7% compared with the year before. Over the period under review, imports recorded a sharp slump. The most prominent rate of growth was recorded in 2015 when imports increased by 207%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, almond imports reduced notably to $X in 2021. Overall, imports faced a precipitous decrease. The pace of growth appeared the most rapid in 2015 when imports increased by 182% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Czech Republic (X kg) constituted the largest almond supplier to Hungary, accounting for a 72% share of total imports. Moreover, almond imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Germany (X kg), sixfold. The third position in this ranking was taken by Italy (X kg), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic totaled -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.6% per year) and Italy (+27.4% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of almond to Hungary, comprising 66% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by Spain, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from the Czech Republic stood at -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.0% per year) and Spain (-20.9% per year).

Import Prices by Country

In 2021, the average almond import price amounted to $X per ton, with an increase of 27% against the previous year. Overall, the import price saw resilient growth. The pace of growth was the most pronounced in 2018 an increase of 125%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Croatia (+576.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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