Hungary: Frozen Pork Cut Market 2024

Frozen Pork Cut Market Size in Hungary

In 2022, the Hungarian frozen pork cut market decreased by -45% to $X, falling for the third year in a row after three years of growth. In general, consumption faced a deep contraction. Frozen pork cut consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Frozen Pork Cut Production in Hungary

In value terms, frozen pork cut production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Frozen Pork Cut Exports

Exports from Hungary

In 2022, after two years of growth, there was significant decline in overseas shipments of frozen hams, shoulders and cuts of pig meat, when their volume decreased by -38.6% to X tons. In general, exports recorded a abrupt contraction. The growth pace was the most rapid in 2020 when exports increased by 55% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen pork cut exports declined sharply to $X in 2022. Over the period under review, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 47% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), Romania (X tons) and Poland (X tons) were the main destinations of frozen pork cut exports from Hungary, with a combined 73% share of total exports. Vietnam, Singapore and Congo lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +45.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the key foreign market for frozen hams, shoulders and cuts of pig meat exports from Hungary, comprising 56% of total exports. The second position in the ranking was held by Romania ($X), with a 15% share of total exports. It was followed by Poland, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-8.1% per year) and Poland (+35.8% per year).

Export Prices by Country

The average frozen pork cut export price stood at $X per ton in 2022, growing by 5% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2013 an increase of 11% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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 Spain ($X per ton), while the average price for exports to Congo ($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 Congo (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Pork Cut Imports

Imports into Hungary

In 2022, approx. X tons of frozen hams, shoulders and cuts of pig meat were imported into Hungary; shrinking by -22.2% against 2021 figures. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 84% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen pork cut imports shrank modestly to $X in 2022. In general, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 98%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Poland (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of frozen pork cut imports to Hungary, with a combined 72% share of total imports. Spain, Estonia, Lithuania, Slovakia, France and the Netherlands lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +29.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Poland ($X), Spain ($X) and Austria ($X) appeared to be the largest frozen pork cut suppliers to Hungary, together comprising 73% of total imports. Germany, Estonia, Lithuania, Slovakia, France and the Netherlands lagged somewhat behind, together comprising a further 26%.

Lithuania, with a CAGR of +30.5%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average frozen pork cut import price amounted to $X per ton, increasing by 24% against the previous year. Overall, the import price, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 an increase of 26%. Over the period under review, average import prices reached the peak figure 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 the Netherlands ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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