Hungary: Fresh Pork Cut Market 2024

Fresh Pork Cut Market Size in Hungary

In 2022, the Hungarian fresh pork cut market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption showed a significant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Fresh Pork Cut Production in Hungary

In value terms, fresh pork cut production soared to $X in 2022 estimated in export price. Over the period under review, production recorded a modest expansion. The pace of growth was the most pronounced in 2018 with an increase of 163% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Fresh Pork Cut Exports

Exports from Hungary

After two years of decline, overseas shipments of fresh or chilled hams, shoulders and cuts of pig meat increased by 20% to X tons in 2022. Overall, exports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2019 with an increase of 34%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, fresh pork cut exports surged to $X in 2022. In general, exports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 57%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for fresh pork cut exports from Hungary, with a 52% share of total exports. Moreover, fresh pork cut exports to Italy exceeded the volume sent to the second major destination, Croatia (X tons), fourfold. The third position in this ranking was held by Spain (X tons), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+21.6% per year) and Spain (+18.5% per year).

In value terms, Italy ($X) remains the key foreign market for fresh or chilled hams, shoulders and cuts of pig meat exports from Hungary, comprising 49% of total exports. The second position in the ranking was taken by Croatia ($X), with a 16% share of total exports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+21.7% per year) and Spain (+18.6% per year).

Export Prices by Country

The average fresh pork cut export price stood at $X per ton in 2022, surging by 5.7% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Croatia ($X per ton) and Spain ($X per ton), while the average price for exports to Bulgaria ($X per ton) and Italy ($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 Spain (+0.1%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Pork Cut Imports

Imports into Hungary

Fresh pork cut imports into Hungary skyrocketed to X tons in 2022, rising by 39% against 2021. Overall, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 44%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, fresh pork cut imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of fresh pork cut imports to Hungary, with a combined 59% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +59.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fresh pork cut suppliers to Hungary were Spain ($X), the Netherlands ($X) and Germany ($X), with a combined 61% share of total imports.

Spain, with a CAGR of +52.7%, saw 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

In 2022, the average fresh pork cut import price amounted to $X per ton, declining by -5.3% against the previous year. Overall, the import price continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 21%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Italy ($X per ton), while the price for Austria ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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