Market processes of the most important product lines in 2023

Global production of cereals (excluding rice) may increase by 2.6 percent and consumption by 2.1 percent in 2023/2024. in the economic year compared to the previous season. In Hungary, following the drought of the previous year, the weather was more favorable in 2023, so the output of cereals increased. It produced 5.9 million tons of wheat, 36 percent more than in 2022, the harvested area increased by 8 percent to almost 1.1 million hectares, and the yield per hectare increased by 27 percent to 5.6 tons/hectare. Despite the 6 percent decrease in the harvested area (to 768,000 hectares), due to the 140 percent improvement in the yield (to 8.2 tons/hectare), corn was produced by 125 percent more, 6.3 million tons, in 2023. The producer price of edible wheat without VAT and transport costs was 44 percent lower than in 2022 in 2023, and was HUF 72.9 thousand/ton. The producer price of fodder wheat fell by 47 percent to 67.3 thousand forints/ton, and that of feed corn by 44 percent to 62 thousand forints/ton.

Hungary’s vegetable harvest was 15 percent higher in 2023 than the previous year

Hungary’s vegetable foreign trade balance (including fresh, frozen and melons) improved with a decrease in imports and an increase in exports, but remained negative in 2023 compared to the year before. In 2023, the producer price index of vegetables rose by 16 percent on the Budapest Wholesale Market compared to the year before.

AKI PÁIR