Hungary: Salt Market 2024

Salt Market Size in Hungary

The Hungarian salt market declined to $X in 2022, waning by -3.3% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Salt Production in Hungary

In value terms, salt production fell modestly to $X in 2022 estimated in export price. Overall, production posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2021, and then reduced slightly in the following year.

Salt Exports

Exports from Hungary

In 2022, approx. X tons of salt and pure sodium chloride were exported from Hungary; which is down by -11.8% compared with 2021. In general, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 102%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, salt exports rose to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 60% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons) was the main destination for salt exports from Hungary, with a 72% share of total exports. Moreover, salt exports to Slovakia exceeded the volume sent to the second major destination, Ukraine (X tons), fivefold. The third position in this ranking was held by the Czech Republic (X tons), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+64.9% per year) and the Czech Republic (+28.5% per year).

In value terms, Slovakia ($X) remains the key foreign market for salt and pure sodium chloride exports from Hungary, comprising 48% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 17% share of total exports. It was followed by Austria, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Slovakia amounted to +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+49.8% per year) and Austria (+14.7% per year).

Export Prices by Country

The average salt export price stood at $X per ton in 2022, surging by 17% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 28% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 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 Serbia ($X per ton), while the average price for exports to Slovakia ($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 Romania (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Hungary

In 2022, imports of salt and pure sodium chloride into Hungary dropped dramatically to X tons, falling by -19.2% against the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 51%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, salt imports totaled $X in 2022. Overall, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 50%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of salt to Hungary, with a 70% share of total imports. Moreover, salt imports from Romania exceeded the figures recorded by the second-largest supplier, Austria (X tons), sevenfold. Ukraine (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-0.2% per year) and Ukraine (+1.4% per year).

In value terms, Romania ($X) constituted the largest supplier of salt and pure sodium chloride to Hungary, comprising 48% of total imports. The second position in the ranking was taken by Austria ($X), with a 16% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Romania stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+1.3% per year) and Germany (+7.8% per year).

Import Prices by Country

In 2022, the average salt import price amounted to $X per ton, increasing by 24% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2020 an increase of 33% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

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 Germany (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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