Hungary: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Hungary

After two years of decline, the Hungarian seafood meals and pellets market increased by 7% to $X in 2021. In general, consumption, however, saw a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Hungary

In value terms, seafood meals and pellets production totaled $X in 2021 estimated in export price. Overall, production, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 19% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Hungary

In 2021, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs decreased by 0% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 117% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, seafood meals and pellets exports totaled $X in 2021. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by 107%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Moldova (X tons) was the main destination for seafood meals and pellets exports from Hungary, accounting for a 94% share of total exports. Moreover, seafood meals and pellets exports to Moldova exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Moldova totaled -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-2.7% per year) and Slovakia (+59.0% per year).

From 2012 to 2021, the average annual rate of growth in terms of value to Moldova stood at -8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+8.1% per year) and Slovakia (+56.8% per year).

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 11%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was Romania ($X per ton), while the average price for exports to Moldova ($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 Romania (+11.1%), while the prices for the other major destinations experienced a decline.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Hungary

In 2021, seafood meals and pellets imports into Hungary declined to X tons, reducing by -14.9% against the previous year. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 18% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, seafood meals and pellets imports shrank to $X in 2021. Overall, imports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Poland (X tons), Denmark (X tons) and Spain (X tons) were the main suppliers of seafood meals and pellets imports to Hungary, together accounting for 78% of total imports. These countries were followed by Lithuania, Germany, Slovakia, France and the UK, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +37.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to Hungary were Denmark ($X), Spain ($X) and Poland ($X), with a combined 74% share of total imports. These countries were followed by Lithuania, Germany, Slovakia, France and the UK, which together accounted for a further 26%.

In terms of the main suppliers, Lithuania, with a CAGR of +40.4%, recorded the highest growth rate of 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

In 2021, the average seafood meals and pellets import price amounted to $X per ton, picking up by 2.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 an increase of 19% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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