Hungary: Sugar Market 2022

Sugar Market Size in Hungary

In 2021, the Hungarian sugar market increased by 14% to $X, rising for the third consecutive year after two years of decline. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.3% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Sugar Production in Hungary

In value terms, sugar production declined to $X in 2021 estimated in export price. In general, production saw a abrupt descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 33% against the previous year. Sugar production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

In 2021, the average sugar yield in Hungary amounted to less than X kg per ha, approximately mirroring 2020 figures. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the sugar harvested area in Hungary amounted to less than X ha, standing approx. at the previous year's figure. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Sugar Exports

Exports from Hungary

Sugar exports from Hungary shrank remarkably to X tons in 2021, dropping by -31.2% against 2020. Over the period under review, exports continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2017 with an increase of 5.5% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, sugar exports dropped remarkably to $X in 2021. In general, exports saw a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 30% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Romania (X tons), Austria (X tons) and Bulgaria (X tons) were the main destinations of sugar exports from Hungary, with a combined 64% share of total exports. These countries were followed by Slovenia, Slovakia, Croatia, Serbia, the Czech Republic and Italy, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +23.1%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for sugar exported from Hungary were Romania ($X), Austria ($X) and Bulgaria ($X), together accounting for 55% of total exports. Slovenia, Slovakia, Croatia, Serbia, the Czech Republic and Italy lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Croatia, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average sugar export price amounted to $X per ton, with an increase of 5.5% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The growth pace was the most rapid in 2020 an increase of 24%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Bulgaria ($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 (+12.3%), while the prices for the other major destinations experienced a decline.

Sugar Imports

Imports into Hungary

In 2021, purchases abroad of sugar increased by 5.9% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 38%. 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, sugar imports surged to $X in 2021. In general, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Czech Republic (X tons), Slovakia (X tons) and Austria (X tons) were the main suppliers of sugar imports to Hungary, together comprising 58% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +30.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar suppliers to Hungary were the Czech Republic ($X), Slovakia ($X) and Austria ($X), together accounting for 58% of total imports.

The Czech Republic, with a CAGR of +21.3%, saw the highest rates of growth with regard to 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

In 2021, the average sugar import price amounted to $X per ton, picking up by 9% against the previous year. Overall, the import price, however, recorded a deep reduction. The growth pace was the most rapid in 2020 when the average import price increased by 14% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

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

Source: IndexBox Platform