Hungary: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Hungary

The Hungarian fresh beef carcase market rose to $X in 2022, increasing by 4.7% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. 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.

Fresh Beef Carcase Production in Hungary

In value terms, fresh beef carcase production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 49% against the previous year. Fresh beef carcase production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Fresh Beef Carcase Exports

Exports from Hungary

For the fourth consecutive year, Hungary recorded decline in shipments abroad of fresh or chilled carcases of beef and veal, which decreased by -21.3% to X tons in 2022. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 11% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, fresh beef carcase exports contracted slightly to $X in 2022. Over the period under review, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for fresh beef carcase exports from Hungary, accounting for a 66% share of total exports. Moreover, fresh beef carcase exports to the Netherlands exceeded the volume sent to the second major destination, Austria (X tons), fivefold. Denmark (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-14.7% per year) and Denmark (+6.5% per year).

In value terms, the Netherlands ($X) remains the key foreign market for fresh or chilled carcases of beef and veal exports from Hungary, comprising 64% of total exports. The second position in the ranking was taken by Austria ($X), with a 12% share of total exports. It was followed by Denmark, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-12.9% per year) and Denmark (+9.3% per year).

Export Prices by Country

In 2022, the average fresh beef carcase export price amounted to $X per ton, rising by 21% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh beef carcase export price increased by +56.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 30% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Denmark ($X per ton) and Germany ($X per ton), while the average price for exports to Austria ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Beef Carcase Imports

Imports into Hungary

In 2022, overseas purchases of fresh or chilled carcases of beef and veal increased by 2.7% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 36% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, fresh beef carcase imports expanded sharply to $X in 2022. Overall, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +25.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 36%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Austria (X tons), the Netherlands (X tons) and Poland (X tons) were the main suppliers of fresh beef carcase imports to Hungary, together accounting for 87% of total imports. Romania, Italy, Belgium and Ireland lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +55.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Austria ($X) and Poland ($X) were the largest fresh beef carcase suppliers to Hungary, together comprising 83% of total imports. Romania, Belgium, Italy and Ireland lagged somewhat behind, together accounting for a further 14%.

Romania, with a CAGR of +57.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average fresh beef carcase import price amounted to $X per ton, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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