Hungary: Soya Bean Market 2025

Soya Bean Market Size in Hungary

After two years of decline, the Hungarian soya bean market increased by 19% to $X in 2021. Over the period under review, consumption showed a strong increase. Soya bean consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Soya Bean Production in Hungary

In value terms, soya bean production reduced to $X in 2021 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.1% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 47%. Soya bean production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

The average yield of soya beans in Hungary rose slightly to X tons per ha in 2021, picking up by 1.5% on the previous year's figure. In general, the yield indicated a remarkable increase from 2012 to 2021: its figure increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean yield decreased by -5.2% against 2016 indices. The pace of growth appeared the most rapid in 2016 when the yield increased by 49% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2021, the growth of the average soya bean yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The soya bean harvested area in Hungary shrank slightly to X ha in 2021, remaining stable against 2020. Over the period under review, the total harvested area indicated a perceptible expansion from 2012 to 2021: its figure increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean harvested area decreased by +0.4% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 68% against the previous year. Over the period under review, the harvested area dedicated to soya bean production reached the peak figure at X ha in 2017; however, from 2018 to 2021, the harvested area remained at a lower figure.

Soya Bean Exports

Exports from Hungary

In 2021, after two years of growth, there was significant decline in overseas shipments of soya beans, when their volume decreased by -9.9% to X tons. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2020 with an increase of 208%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, soya bean exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 74%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Austria (X tons) and Serbia (X tons) were the main destinations of soya bean exports from Hungary, together accounting for 95% of total exports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +39.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soya bean exported from Hungary were Germany ($X), Austria ($X) and Serbia ($X), together comprising 93% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +39.4%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average soya bean export price amounted to $X per ton, rising by 43% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 292% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to Italy ($X per ton) and Serbia ($X per ton), while the average price for exports to Germany ($X per ton) and Austria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+43.9%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Bean Imports

Imports into Hungary

After two years of growth, purchases abroad of soya beans decreased by -3.7% to X tons in 2021. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 78% against the previous year. As a result, imports reached the peak of X tons, and then dropped modestly in the following year.

In value terms, soya bean imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw resilient growth. The growth pace was the most rapid in 2016 when imports increased by 119% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Slovakia (X tons), Ukraine (X tons) and Romania (X tons) were the main suppliers of soya bean imports to Hungary, with a combined 58% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +43.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soya bean suppliers to Hungary were Slovakia ($X), Ukraine ($X) and Romania ($X), with a combined 57% share of total imports.

Romania, with a CAGR of +40.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soya bean import price stood at $X per ton in 2021, picking up by 29% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 78%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Austria ($X per ton) and Poland ($X per ton), while the price for Slovakia ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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