Hungary: Frozen Potato Market 2024

Frozen Potato Market Size in Hungary

The Hungarian frozen potato market totaled $X in 2021, with an increase of 12% against the previous year. Overall, consumption continues to indicate a buoyant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Frozen Potato Production in Hungary

In value terms, frozen potato production stood at $X in 2021 estimated in export price. Overall, production continues to indicate a precipitous decline. The growth pace was the most rapid in 2018 when the production volume increased by 13% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Frozen Potato Exports

Exports from Hungary

In 2021, after three years of decline, there was significant growth in shipments abroad of frozen potatoes, when their volume increased by 153% to X tons. Over the period under review, exports showed a moderate increase. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen potato exports soared to $X in 2021. Overall, exports posted strong growth. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for frozen potato exports from Hungary, with a 48% share of total exports. Moreover, frozen potato exports to Romania exceeded the volume sent to the second major destination, Slovakia (X tons), twofold. Austria (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+20.2% per year) and Austria (-9.4% per year).

In value terms, Romania ($X) remains the key foreign market for frozen potatoes exports from Hungary, comprising 49% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 20% share of total exports. It was followed by Austria, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania stood at +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+20.5% per year) and Austria (-7.2% per year).

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, jumping by 18% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen potato export price increased by +70.9% against 2015 indices. The most prominent rate of growth was recorded in 2013 an increase of 22%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Serbia ($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 Bulgaria (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into Hungary

Frozen potato imports into Hungary rose sharply to X tons in 2021, increasing by 8.9% compared with the year before. In general, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +92.7% against 2012 indices. The pace of growth was the most pronounced in 2018 when imports increased by 14% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, frozen potato imports rose sharply to $X in 2021. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), the Netherlands (X tons) and Belgium (X tons) were the main suppliers of frozen potato imports to Hungary, with a combined 76% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +11.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato suppliers to Hungary were the Netherlands ($X), Poland ($X) and Belgium ($X), with a combined 75% share of total imports.

The Netherlands, with a CAGR of +12.6%, recorded 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 2021, the average frozen potato import price amounted to $X per ton, growing by 4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2013 an increase of 15% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Germany ($X per ton) and Austria ($X per ton), while the price for Belgium ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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