Hungary: Paddy Rice Market 2024

Paddy Rice Market Size in Hungary

The Hungarian paddy rice market rose rapidly to $X in 2022, growing by 11% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Paddy rice consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Paddy Rice Production in Hungary

In value terms, paddy rice production expanded notably to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 86%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The average yield of paddy rice in Hungary expanded significantly to X tons per ha in 2022, increasing by 6.4% against the previous year. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the yield increased by 20%. The paddy rice yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of paddy rice were harvested in Hungary; surging by 5% compared with 2021. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by 17%. The paddy rice harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Paddy Rice Exports

Exports from Hungary

In 2022, paddy rice exports from Hungary soared to X tons, jumping by 230% against 2021. Over the period under review, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 706%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, paddy rice exports skyrocketed to $X in 2022. Overall, exports showed resilient growth. The growth pace was the most rapid in 2015 when exports increased by 1,162%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Poland (X tons) and Serbia (X tons) were the main destinations of paddy rice exports from Hungary, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +46.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for paddy rice exports from Hungary, comprising 70% of total exports. The second position in the ranking was held by Poland ($X), with a 23% share of total exports. It was followed by Serbia, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+16.3% per year) and Serbia (+40.6% per year).

Export Prices by Country

The average paddy rice export price stood at $X per ton in 2022, rising by 13% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paddy rice export price increased by +70.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 57%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($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 Germany (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Paddy Rice Imports

Imports into Hungary

In 2022, the amount of paddy rice imported into Hungary soared to X tons, with an increase of 565% compared with the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 1,790% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, paddy rice imports surged to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 2,210%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of paddy rice to Hungary, accounting for a 77% share of total imports. Moreover, paddy rice imports from Greece exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), sevenfold. The third position in this ranking was held by Italy (X tons), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+133.6% per year) and Italy (-25.0% per year).

In value terms, Greece ($X) constituted the largest supplier of paddy rice to Hungary, comprising 65% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with an 18% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Greece amounted to +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+124.3% per year) and Italy (-19.0% per year).

Import Prices by Country

In 2022, the average paddy rice import price amounted to $X per ton, shrinking by -14.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 55% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+12.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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