Hungary: Market for Fresh Or Chilled Cuts Of Turkey 2024

Market Size for Fresh Or Chilled Cuts Of Turkey in Hungary

The Hungarian market for fresh or chilled cuts of turkey soared to $X in 2022, with an increase of 15% against the previous year. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.1% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Fresh Or Chilled Cuts Of Turkey in Hungary

In value terms, fresh or chilled turkey cut production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a mild decline. The pace of growth was the most pronounced in 2018 with an increase of 23%. Fresh or chilled turkey cut production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Fresh Or Chilled Cuts Of Turkey

Exports from Hungary

Fresh or chilled turkey cut exports from Hungary reduced rapidly to X tons in 2022, which is down by -17.2% on the year before. Over the period under review, exports showed a pronounced downturn. The growth pace was the most rapid in 2021 when exports increased by 16% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fresh or chilled turkey cut exports amounted to $X in 2022. Overall, exports recorded a pronounced curtailment. The growth pace was the most rapid in 2021 when exports increased by 28%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons), Slovakia (X tons) and Austria (X tons) were the main destinations of fresh or chilled turkey cut exports from Hungary, together accounting for 56% of total exports. Italy, Switzerland, Slovenia, Germany, the UK and Poland lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +3.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Slovakia ($X), Romania ($X) and Austria ($X) constituted the largest markets for fresh or chilled turkey cut exported from Hungary worldwide, together comprising 48% of total exports. Italy, Switzerland, Slovenia, Germany, the UK and Poland lagged somewhat behind, together accounting for a further 38%.

Switzerland, with a CAGR of +3.5%, saw the highest rates of growth with regard to the value of exports, among 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 export price for fresh or chilled cuts of turkey stood at $X per ton in 2022, with an increase of 23% against the previous year. In general, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Romania ($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 Poland (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fresh Or Chilled Cuts Of Turkey

Imports into Hungary

In 2022, supplies from abroad of fresh or chilled cuts of turkey decreased by -28.6% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 44% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, fresh or chilled turkey cut imports declined significantly to $X in 2022. In general, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of fresh or chilled turkey cut to Hungary, accounting for a 68% share of total imports. Moreover, fresh or chilled turkey cut imports from Austria exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria amounted to -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+52.4% per year) and Romania (+15.0% per year).

In value terms, Austria ($X) constituted the largest supplier of fresh or chilled cuts of turkey to Hungary, comprising 60% of total imports. The second position in the ranking was held by Poland ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Austria amounted to -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+47.7% per year) and Romania (+23.2% per year).

Import Prices by Country

The average import price for fresh or chilled cuts of turkey stood at $X per ton in 2022, picking up by 7.1% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh or chilled turkey cut import price increased by +6.0% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 25%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+7.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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