Hungary: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Hungary

In 2022, the Hungarian animal or vegetable fertilisers market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Animal Or Vegetable Fertilisers in Hungary

In value terms, animal or vegetable fertilisers production surged to $X in 2022 estimated in export price. Overall, production posted temperate growth. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, production hit record highs in 2022 and is likely to see gradual growth in years to come.

Exports of Animal Or Vegetable Fertilisers

Exports from Hungary

In 2022, shipments abroad of animal or vegetable fertilisers increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal or vegetable fertilisers exports skyrocketed to $X in 2022. In general, exports, however, showed a noticeable setback. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Slovakia (X tons), Austria (X tons) and Romania (X tons) were the main destinations of animal or vegetable fertilisers exports from Hungary, together comprising X% of total exports. France, Poland, Spain, Italy and the Czech Republic lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X) remains the key foreign market for animal or vegetable fertilisers exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Slovakia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and Romania (X% per year).

Export Prices by Country

In 2022, the average animal or vegetable fertilisers export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal or vegetable fertilisers export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Poland ($X 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 the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Animal Or Vegetable Fertilisers

Imports into Hungary

In 2022, supplies from abroad of animal or vegetable fertilisers was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a noticeable downturn. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, animal or vegetable fertilisers imports surged to $X in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest animal or vegetable fertilisers supplier to Hungary, with a X% share of total imports. Moreover, animal or vegetable fertilisers imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Austria (X tons), twofold. The third position in this ranking was held by Slovakia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and Slovakia (X% per year).

In value terms, Austria ($X) constituted the largest supplier of animal or vegetable fertilisers to Hungary, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Austria stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average animal or vegetable fertilisers import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal or vegetable fertilisers import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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