Hungary: Sugars Market 2024

Sugars Market Size in Hungary

The Hungarian sugars market rose rapidly to $X in 2021, with an increase of 10% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sugars Production in Hungary

In value terms, sugars production rose modestly to $X in 2021 estimated in export price. In general, production, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2015 when the production volume increased by 13%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Sugars Exports

Exports from Hungary

Sugars exports from Hungary fell markedly to X tons in 2021, which is down by -46.1% against the previous year. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 135% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sugars exports shrank sharply to $X in 2021. Over the period under review, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 164%. As a result, the exports reached the peak of $X, and then reduced rapidly in the following year.

Exports by Country

The United States (X tons), India (X tons) and Poland (X tons) were the main destinations of sugars exports from Hungary, together comprising 70% of total exports. These countries were followed by the Czech Republic, China, Slovakia, Taiwan (Chinese), Spain, Austria, Romania and Germany, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +1,316.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sugars exported from Hungary were the United States ($X), India ($X) and China ($X), together comprising 89% of total exports. Poland, Spain, Taiwan (Chinese), Austria, the Czech Republic, Slovakia, Romania, Germany and Slovenia lagged somewhat behind, together accounting for a further 6.7%.

Taiwan (Chinese), with a CAGR of +506.5%, saw 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

In 2021, the average sugars export price amounted to $X per ton, falling by -9.2% against the previous year. Overall, the export price, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 an increase of 82% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Slovakia ($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 Spain (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into Hungary

In 2021, imports of sugars, sugar ethers and salts into Hungary surged to X tons, increasing by 25% compared with the previous year. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +10.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.2% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 53%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, sugars imports skyrocketed to $X in 2021. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 36%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

France (X tons), Germany (X tons) and China (X tons) were the main suppliers of sugars imports to Hungary, together comprising 65% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +113.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and China ($X) were the largest sugars suppliers to Hungary, with a combined 66% share of total imports.

In terms of the main suppliers, China, with a CAGR of +99.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugars import price stood at $X per ton in 2021, picking up by 2.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

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 France ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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