Hungary: Oil Crops Market 2024

Oil Crops Market Size in Hungary

In 2022, the Hungarian oil crops market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2017; afterwards, it flattened through to 2022.

Oil Crops Production in Hungary

In value terms, oil crops production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Oil crops production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

In 2022, the average yield of oil crops (primary) in Hungary reached X tons per ha, leveling off at 2021. Overall, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the average oil crops yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the oil crops harvested area in Hungary stood at X ha, approximately mirroring 2021 figures. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2018 to 2022, the growth of the oil crops harvested area remained at a somewhat lower figure.

Oil Crops Exports

Exports from Hungary

In 2022, overseas shipments of oil crops (primary) decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports showed a pronounced descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, oil crops exports stood at $X in 2022. Overall, exports saw a slight decrease. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X tons), Germany (X tons) and the Czech Republic (X tons) were the main destinations of oil crops exports from Hungary, with a combined X% share of total exports. Italy, Romania, the Netherlands, Serbia, Slovakia and Poland lagged somewhat behind, together accounting for a further X%.

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

In value terms, Germany ($X), Austria ($X) and the Czech Republic ($X) constituted the largest markets for oil crops exported from Hungary worldwide, together comprising X% of total exports.

Among the main countries of destination, the Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average oil crops export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price showed tangible growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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

Oil Crops Imports

Imports into Hungary

Oil crops imports into Hungary soared to X tons in 2022, growing by X% on the previous year's figure. In general, imports posted a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil crops imports skyrocketed to $X in 2022. Over the period under review, imports showed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Romania (X tons) and Slovakia (X tons) were the main suppliers of oil crops imports to Hungary, with a combined X% share of total imports. Croatia, Serbia, Germany, Poland and Austria lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil crops suppliers to Hungary were Ukraine ($X), Romania ($X) and Slovakia ($X), with a combined X% share of total imports. Croatia, Germany, Serbia, Austria and Poland lagged somewhat behind, together comprising a further X%.

Croatia, with a CAGR of X%, 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 2022, the average oil crops import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price showed a mild setback. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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