Hungary: Frozen Whole Turkey Market 2024

Frozen Whole Turkey Market Size in Hungary

The Hungarian frozen whole turkey market expanded sharply to $X in 2022, increasing by 8.7% against the previous year. Overall, consumption saw a resilient increase. Frozen whole turkey consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Whole Turkey Production in Hungary

In value terms, frozen whole turkey production rose to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant increase. The growth pace was the most rapid in 2014 when the production volume increased by 213%. Frozen whole turkey production peaked at $X in 2020; afterwards, it flattened through to 2022.

Frozen Whole Turkey Exports

Exports from Hungary

In 2022, overseas shipments of frozen whole turkeys decreased by -52% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2014 when exports increased by 302%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen whole turkey exports declined rapidly to $X in 2022. Overall, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2014 with an increase of 433% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons) was the main destination for frozen whole turkey exports from Hungary, accounting for a 94% share of total exports. Moreover, frozen whole turkey exports to Switzerland exceeded the volume sent to the second major destination, Austria (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Switzerland amounted to +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+66.4% per year) and Romania (-19.3% per year).

In value terms, Switzerland ($X) remains the key foreign market for frozen whole turkeys exports from Hungary, comprising 96% of total exports. The second position in the ranking was held by Austria ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Switzerland totaled +54.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+66.4% per year) and Romania (-17.2% per year).

Export Prices by Country

In 2022, the average frozen whole turkey export price amounted to $X per ton, increasing by 40% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen whole turkey export price increased by +66.9% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Switzerland (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Whole Turkey Imports

Imports into Hungary

In 2022, purchases abroad of frozen whole turkeys increased by 4.3% to X tons, rising for the third consecutive year after two years of decline. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 307% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen whole turkey imports rose significantly to $X in 2022. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 398%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Austria (X tons) was the main frozen whole turkey supplier to Hungary, with a 91% share of total imports. Moreover, frozen whole turkey imports from Austria exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria stood at +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+0.7% per year) and Italy (-18.0% per year).

In value terms, Austria ($X) constituted the largest supplier of frozen whole turkeys to Hungary, comprising 89% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Austria amounted to +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.1% per year) and Italy (-13.7% per year).

Import Prices by Country

The average frozen whole turkey import price stood at $X per ton in 2022, surging by 2.3% against the previous year. Overall, the import price saw a resilient increase. The pace of growth appeared the most rapid in 2014 an increase of 194% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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