Hungary: Cheese And Curd Market 2024

Cheese And Curd Market Size in Hungary

The Hungarian cheese and curd market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption continues to indicate a slight curtailment. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cheese And Curd Production in Hungary

In value terms, cheese and curd production soared to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable slump. Cheese and curd production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Cheese And Curd Exports

Exports from Hungary

In 2022, after ten years of growth, there was decline in overseas shipments of cheese and curd, when their volume decreased by -0.1% to X tons. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2013 with an increase of 22%. The exports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, cheese and curd exports totaled $X in 2022. Overall, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Italy (X tons) was the main destination for cheese and curd exports from Hungary, accounting for a 25% share of total exports. Moreover, cheese and curd exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+3.9% per year) and Saudi Arabia (+7.5% per year).

In value terms, Italy ($X) remains the key foreign market for cheese and curd exports from Hungary, comprising 23% of total exports. The second position in the ranking was taken by Romania ($X), with a 9.8% share of total exports. It was followed by Lebanon, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+4.9% per year) and Lebanon (+2.3% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, with an increase of 13% against the previous year. Overall, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Slovakia ($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 France (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Hungary

After four years of growth, purchases abroad of cheese and curd decreased by -8.3% to X tons in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 16%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, cheese and curd imports expanded notably to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +84.1% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 19% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest cheese and curd supplier to Hungary, with a 57% share of total imports. Moreover, cheese and curd imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The third position in this ranking was taken by Austria (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+2.3% per year) and Austria (+5.5% per year).

In value terms, Germany ($X) constituted the largest supplier of cheese and curd to Hungary, comprising 56% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.4% per year) and the Netherlands (+6.6% per year).

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, with an increase of 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2017 when the average import price increased by 21%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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