Hungary: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Hungary

After four years of growth, the Hungarian market for broad beans and horse beans (dry) decreased by -26.9% to $X in 2022. Over the period under review, consumption, however, recorded a prominent increase. Broad bean and horse bean consumption peaked at $X in 2021, and then dropped rapidly in the following year.

Production of Broad Beans And Horse Beans (Dry) in Hungary

In value terms, broad bean and horse bean production surged to $X in 2022 estimated in export price. Over the period under review, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 725%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The average yield of broad beans and horse beans (dry) in Hungary skyrocketed to X tons per ha in 2022, with an increase of 32% on 2021. Over the period under review, the yield continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 94%. The broad bean and horse bean yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of broad beans and horse beans (dry) production in Hungary reduced notably to X ha, which is down by -45.8% compared with the previous year's figure. In general, the harvested area, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,122%. As a result, the harvested area reached the peak level of X ha, and then dropped sharply in the following year.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Hungary

In 2022, broad bean and horse bean exports from Hungary surged to X tons, increasing by 4,768% compared with the year before. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 19,957% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, broad bean and horse bean exports soared to $X in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 16,300% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for broad bean and horse bean exports from Hungary, accounting for a 66% share of total exports. Moreover, broad bean and horse bean exports to Romania exceeded the volume sent to the second major destination, Poland (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania amounted to +90.3%.

In value terms, Romania ($X) emerged as the key foreign market for broad beans and horse beans (dry) exports from Hungary, comprising 72% of total exports. The second position in the ranking was held by Poland ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania amounted to +58.3%.

Export Prices by Country

In 2022, the average export price for broad beans and horse beans (dry) amounted to $X per ton, declining by -71.2% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 when the average export price increased by 65% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Poland amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (-14.6%).

Imports of Broad Beans And Horse Beans (Dry)

Imports into Hungary

In 2022, imports of broad beans and horse beans (dry) into Hungary shrank markedly to X tons, which is down by -74% on the previous year's figure. In general, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 348,608% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, broad bean and horse bean imports declined sharply to $X in 2022. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 313,060% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of broad bean and horse bean to Hungary, accounting for a 70% share of total imports. Moreover, broad bean and horse bean imports from Turkey exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), twofold.

From 2013 to 2022, the average annual growth rate of volume from Turkey totaled +21.3%.

In value terms, Turkey ($X) constituted the largest supplier of broad beans and horse beans (dry) to Hungary, comprising 61% of total imports. The second position in the ranking was held by Slovenia ($X), with a 28% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from Turkey amounted to +25.7%.

Import Prices by Country

In 2022, the average import price for broad beans and horse beans (dry) amounted to $X per ton, increasing by 160% against the previous year. Overall, the import price continues to indicate prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for Turkey stood at $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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