Hungary: Fertilizer Market 2024

Fertilizer Market Size in Hungary

The Hungarian fertilizer market skyrocketed to $X in 2022, picking up by X% against the previous year. In general, consumption recorded strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fertilizer Production in Hungary

In value terms, fertilizer production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild downturn. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Fertilizer production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Fertilizer Exports

Exports from Hungary

In 2022, the amount of fertilizers exported from Hungary soared to X tons, jumping by X% compared with 2021. In general, total exports indicated perceptible growth from 2012 to 2022: its volume 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, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, fertilizer exports soared to $X in 2022. Over the period under review, total exports indicated a noticeable expansion 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, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Serbia (X tons), Romania (X tons) and Croatia (X tons) were the main destinations of fertilizer exports from Hungary, with a combined X% share of total exports. Austria, Slovakia, Slovenia, Germany, Italy, Bosnia and Herzegovina, Poland, the Czech Republic and Bulgaria lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for fertilizer exported from Hungary were Romania ($X), Serbia ($X) and Croatia ($X), together accounting for X% of total exports. Slovakia, Austria, Italy, Germany, Slovenia, the Czech Republic, Bosnia and Herzegovina, Poland and Bulgaria lagged somewhat behind, together comprising a further X%.

Bulgaria, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, recorded a mild descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Italy ($X per ton), while the average price for exports to Serbia ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Hungary

In 2022, the amount of fertilizers imported into Hungary surged to X tons, growing by X% compared with the previous year. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume 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 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer imports soared to $X in 2022. In general, imports continue to indicate resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Austria (X tons), Slovakia (X tons) and Romania (X tons) were the main suppliers of fertilizer imports to Hungary, together accounting for X% of total imports. Slovenia, Serbia, Germany, Poland, Croatia, Russia and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fertilizer suppliers to Hungary were Slovakia ($X), Austria ($X) and Slovenia ($X), with a combined X% share of total imports.

Slovenia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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