Hungary: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Hungary

In 2021, the Hungarian lucerne meal and pellets market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a noticeable decline. Lucerne meal and pellets consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Production of Lucerne (Alfalfa) Meal And Pellets in Hungary

In value terms, lucerne meal and pellets production reached $X in 2021 estimated in export price. Overall, production, however, saw a sharp reduction. The pace of growth was the most pronounced in 2017 with an increase of 118% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports from Hungary

In 2021, overseas shipments of lucerne (alfalfa) meal and pellets decreased by -21.9% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, saw notable growth. The pace of growth appeared the most rapid in 2015 with an increase of 182% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, lucerne meal and pellets exports contracted to $X in 2021. Over the period under review, exports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2015 with an increase of 116% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Serbia (X tons), Croatia (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of lucerne meal and pellets exports from Hungary, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +8.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lucerne meal and pellets exported from Hungary were Serbia ($X), Croatia ($X) and the Netherlands ($X), together comprising 81% of total exports.

Serbia, with a CAGR of +7.1%, saw 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

The average lucerne meal and pellets export price stood at $X per ton in 2021, rising by 12% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Austria ($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 Germany (+2,870.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports into Hungary

In 2021, overseas purchases of lucerne (alfalfa) meal and pellets increased by 8.8% to X tons, rising for the third consecutive year after six years of decline. Over the period under review, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 620%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lucerne meal and pellets imports shrank notably to $X in 2021. Overall, imports, however, continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 914%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Austria (X tons) constituted the largest lucerne meal and pellets supplier to Hungary, accounting for a 62% share of total imports. Moreover, lucerne meal and pellets imports from Austria exceeded the figures recorded by the second-largest supplier, Croatia (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from Austria totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+37.9% per year) and Belgium (+50.4% per year).

In value terms, the largest lucerne meal and pellets suppliers to Hungary were Croatia ($X), Belgium ($X) and Austria ($X), together accounting for 86% of total imports.

In terms of the main suppliers, Belgium, with a CAGR of +54.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lucerne meal and pellets import price stood at $X per ton in 2021, which is down by -33% against the previous year. Overall, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2019 an increase of 41%. Over the period under review, average import prices hit record highs 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 Belgium ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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