Hungary: Market for Prepared Or Preserved Shoulders And Cuts Of Swine Meat 2024

Market Size for Prepared Or Preserved Shoulders And Cuts Of Swine Meat in Hungary

In 2021, the Hungarian preserved swine meat cut market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2016 with an increase of 5%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Prepared Or Preserved Shoulders And Cuts Of Swine Meat in Hungary

In value terms, preserved swine meat cut production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, showed a dramatic contraction. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Prepared Or Preserved Shoulders And Cuts Of Swine Meat

Exports from Hungary

In 2021, overseas shipments of prepared or preserved shoulders and cuts of swine meat decreased by -6.2% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 296% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved swine meat cut exports reduced slightly to $X in 2021. In general, exports, however, posted a modest increase. The growth pace was the most rapid in 2013 with an increase of 307%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Romania (X tons) and Serbia (X tons) were the main destinations of preserved swine meat cut exports from Hungary, together comprising 71% of total exports. Austria, Slovakia, Italy and the UK lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +188.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Romania ($X) and Serbia ($X) appeared to be the largest markets for preserved swine meat cut exported from Hungary worldwide, with a combined 66% share of total exports. Austria, Slovakia, Italy and the UK lagged somewhat behind, together accounting for a further 25%.

Austria, with a CAGR of +182.2%, recorded the highest rates of growth with regard to the value of exports, among 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 preserved swine meat cut export price stood at $X per ton in 2021, surging by 1.6% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved swine meat cut export price increased by +87.4% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 37% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the United States ($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 Italy (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Or Preserved Shoulders And Cuts Of Swine Meat

Imports into Hungary

In 2021, supplies from abroad of prepared or preserved shoulders and cuts of swine meat decreased by -14.5% to X tons, falling for the third consecutive year after five years of growth. Overall, imports, however, recorded a significant increase. The growth pace was the most rapid in 2016 with an increase of 148%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved swine meat cut imports shrank significantly to $X in 2021. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of 117%. Over the period under review, imports reached the maximum at $X in 2020, and then reduced markedly in the following year.

Imports by Country

In 2021, Slovakia (X tons) constituted the largest supplier of preserved swine meat cut to Hungary, accounting for a 90% share of total imports. Moreover, preserved swine meat cut imports from Slovakia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Slovakia totaled +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+93.3% per year) and Denmark (+15.1% per year).

In value terms, Slovakia ($X) constituted the largest supplier of prepared or preserved shoulders and cuts of swine meat to Hungary, comprising 80% of total imports. The second position in the ranking was held by Belgium ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Slovakia totaled +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+100.1% per year) and Denmark (+17.2% per year).

Import Prices by Country

The average preserved swine meat cut import price stood at $X per ton in 2021, shrinking by -16.7% against the previous year. Overall, the import price saw a slight shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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