Hungary: Chestnut Market 2024

Chestnut Market Size in Hungary

The Hungarian chestnut market shrank to $X in 2021, declining by -13.1% against the previous year. Overall, consumption, however, enjoyed a strong increase. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Chestnut Production in Hungary

In value terms, chestnut production shrank markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep slump. The growth pace was the most rapid in 2020 with an increase of 193%. Chestnut production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

In 2021, the average chestnut yield in Hungary expanded modestly to X kg per ha, growing by 2% compared with 2020. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the yield increased by 28%. As a result, the yield attained the peak level of X kg per ha. From 2020 to 2021, the growth of the average chestnut 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 2021, approx. X ha of chestnuts were harvested in Hungary; reducing by -11.8% compared with the previous year's figure. Overall, the harvested area recorded a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 31% against the previous year. Over the period under review, the harvested area dedicated to chestnut production attained the peak figure at X ha in 2013; however, from 2014 to 2021, the harvested area stood at a somewhat lower figure.

Chestnut Exports

Exports from Hungary

In 2021, the amount of chestnuts exported from Hungary declined rapidly to X kg, which is down by -95.7% on the previous year. Overall, exports recorded a precipitous contraction. The growth pace was the most rapid in 2014 with an increase of 737%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, chestnut exports declined rapidly to $X in 2021. In general, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2014 when exports increased by 552%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X kg), Austria (X kg) and Romania (X kg) were the main destinations of chestnut exports from Hungary.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of -5.5%), while the other leaders experienced a decline.

In value terms, Spain ($X), Austria ($X) and Romania ($X) constituted the largest markets for chestnut exported from Hungary worldwide, together comprising 100% of total exports.

Austria, with a CAGR of -5.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average chestnut export price stood at $X per ton in 2021, surging by 20% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chestnut export price increased by +80.9% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 53% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+32.1%), while the prices for the other major destinations experienced more modest paces of growth.

Chestnut Imports

Imports into Hungary

In 2021, approx. X tons of chestnuts were imported into Hungary; reducing by -28.1% on the previous year. In general, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 171% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, chestnut imports fell to $X in 2021. Overall, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2013 when imports increased by 186%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Albania (X tons), North Macedonia (X tons) and Bosnia and Herzegovina (X tons) were the main suppliers of chestnut imports to Hungary, together accounting for 79% of total imports. These countries were followed by Germany, Spain, Italy, Austria and the Netherlands, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +43.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Albania ($X), Germany ($X) and North Macedonia ($X) were the largest chestnut suppliers to Hungary, together accounting for 59% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +45.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chestnut import price stood at $X per ton in 2021, jumping by 26% against the previous year. In general, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 32% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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