Hungary: Rice Bran Market 2024

Rice Bran Market Size in Hungary

In 2021, after four years of decline, there was growth in the Hungarian rice bran market, when its value increased by 4.3% to $X. Overall, consumption, however, recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Rice Bran Production in Hungary

In value terms, rice bran production rose sharply to $X in 2021 estimated in export price. Overall, production recorded a abrupt shrinkage. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Rice Bran Exports

Exports from Hungary

In 2021, overseas shipments of rice bran decreased by -4% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2017 when exports increased by 111% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, rice bran exports reduced sharply to $X in 2021. Overall, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 74%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Poland (X tons) was the main destination for rice bran exports from Hungary, with a 80% share of total exports. Moreover, rice bran exports to Poland exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), fourfold. The third position in this ranking was held by Romania (X kg), with a 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland amounted to -27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+10.6% per year) and Romania (-58.9% per year).

In value terms, the largest markets for rice bran exported from Hungary were Poland ($X), Bosnia and Herzegovina ($X) and Romania ($X), together accounting for 72% of total exports.

Among the main countries of destination, Bosnia and Herzegovina, with a CAGR of +16.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average rice bran export price amounted to $X per ton, shrinking by -17.1% against the previous year. Overall, the export price, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2014 an increase of 136%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Poland ($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 Romania (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Bran Imports

Imports into Hungary

In 2021, overseas purchases of rice bran decreased by -10.6% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports faced a significant decrease. The pace of growth was the most pronounced in 2015 with an increase of 395% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, rice bran imports contracted to $X in 2021. In general, imports faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 218% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest rice bran supplier to Hungary, accounting for a 54% share of total imports. Moreover, rice bran imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+57.9% per year) and the United States (-8.9% per year).

In value terms, Germany ($X) constituted the largest supplier of rice bran to Hungary, comprising 77% of total imports. The second position in the ranking was held by the United States ($X), with an 8.5% share of total imports. It was followed by the Czech Republic, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.0% per year) and the Czech Republic (+34.8% per year).

Import Prices by Country

In 2021, the average rice bran import price amounted to $X per ton, increasing by 5.8% against the previous year. Over the period under review, the import price saw significant growth. The growth pace was the most rapid in 2018 an increase of 278%. The import price peaked in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+27.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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