Hungary: Pork Market 2024

Pork Market Size in Hungary

In 2022, the Hungarian pork market increased by 2.1% to $X, rising for the second consecutive year after three years of decline. Overall, consumption recorded a relatively flat trend pattern. Pork consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Pork Production in Hungary

In value terms, pork production declined modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 10% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

The average yield of pork in Hungary amounted to X kg per head in 2022, remaining relatively unchanged against the previous year's figure. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the yield increased by 8% against the previous year. As a result, the yield reached the peak level of X kg per head. From 2014 to 2022, the growth of the average pork yield remained at a somewhat lower figure.

The number of animals slaughtered for pork production in Hungary reduced modestly to X heads in 2022, which is down by -2% against the year before. This number increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the number of producing animals increased by 11%. Over the period under review, this number attained the peak level at X heads in 2017; however, from 2018 to 2022, producing animals failed to regain momentum.

Pork Exports

Exports from Hungary

After three years of growth, overseas shipments of pork decreased by -1.6% to X tons in 2022. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when exports increased by 14%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank slightly in the following year.

In value terms, pork exports rose to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 20%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for pork exports from Hungary, accounting for a 36% share of total exports. Moreover, pork exports to Romania exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was taken by Croatia (X tons), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to Romania amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-6.5% per year) and Croatia (+12.8% per year).

In value terms, Romania ($X) remains the key foreign market for pork exports from Hungary, comprising 33% of total exports. The second position in the ranking was held by Italy ($X), with a 10% share of total exports. It was followed by Croatia, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-5.3% per year) and Croatia (+11.9% per year).

Export Prices by Country

The average pork export price stood at $X per ton in 2022, with an increase of 6.5% against the previous year. In general, the export price, however, recorded a slight setback. The pace of growth appeared the most rapid in 2017 an increase of 7.4%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 United States ($X per ton), while the average price for exports to Moldova ($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 Italy (+1.2%), while the prices for the other major destinations experienced a decline.

Pork Imports

Imports into Hungary

In 2022, the amount of pork imported into Hungary amounted to X tons, growing by 8.3% compared with 2021 figures. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 16% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, pork imports surged to $X in 2022. Over the period under review, imports, however, showed a mild downturn. The pace of growth appeared the most rapid in 2016 with an increase of 24%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Spain (X tons) and Poland (X tons) were the main suppliers of pork imports to Hungary, with a combined 65% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +21.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pork suppliers to Hungary were Germany ($X), Spain ($X) and Poland ($X), with a combined 65% share of total imports.

Among the main suppliers, Spain, with a CAGR of +21.3%, recorded the highest rates of growth with regard to 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 pork import price stood at $X per ton in 2022, growing by 6.9% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and the Netherlands ($X per ton), while the price for Denmark ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :