Hungary: Herbicide Market 2024

Herbicide Market Size in Hungary

The Hungarian herbicide market reduced dramatically to $X in 2021, dropping by -23.4% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Herbicide Production in Hungary

In value terms, herbicide production expanded modestly to $X in 2021 estimated in export price. In general, production, however, recorded noticeable growth. The pace of growth appeared the most rapid in 2017 with an increase of 166% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Herbicide Exports

Exports from Hungary

In 2021, shipments abroad of herbicides increased by 0.3% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2015 when exports increased by 66% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, herbicide exports contracted to $X in 2021. In general, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 93%. Over the period under review, the exports reached the peak figure at $X in 2020, and then declined in the following year.

Exports by Country

France (X tons) was the main destination for herbicide exports from Hungary, with a 21% share of total exports. Moreover, herbicide exports to France exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by Ukraine (X tons), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+12.9% per year) and Ukraine (+23.4% per year).

In value terms, the largest markets for herbicide exported from Hungary were France ($X), Poland ($X) and Spain ($X), with a combined 37% share of total exports. Germany, Italy, Ukraine, Russia, Belgium, Romania, the Netherlands, Denmark, Turkey and Kazakhstan lagged somewhat behind, together accounting for a further 35%.

Denmark, with a CAGR of +75.1%, recorded the highest growth rate of the value of exports, in terms of 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

In 2021, the average herbicide export price amounted to $X per ton, waning by -7.9% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 32% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Ukraine ($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 Spain (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Herbicide Imports

Imports into Hungary

In 2021, overseas purchases of herbicides decreased by -13% to X tons, falling for the third year in a row after five years of growth. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 12% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, herbicide imports stood at $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 21%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of herbicide imports to Hungary, together accounting for 60% of total imports. These countries were followed by Israel, Poland, Austria, Denmark and Romania, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of herbicides to Hungary, comprising 35% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by Israel, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.9% per year) and Israel (+4.9% per year).

Import Prices by Country

The average herbicide import price stood at $X per ton in 2021, increasing by 16% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 16%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 2021, the most notable rate of growth in terms of prices was attained by Denmark (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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