According to the KSH, agricultural producer prices increased by 40 percent in the first half of the year
Agricultural producer prices increased by 40 percent in the first half of 2022, the prices of plant products and animals and animal products also increased significantly, by 44 percent and 31 percent respectively, the Central Statistics Office (KSH) announced on its website.
![](https://trademagazin.cdn.webgarden.io/wp-content/uploads/2022/09/apples-ge4bd0b079_1920-300x200.jpg)
There is no food that has not gone up in price (Photo: Pixabay)
Input prices rose even more than producer prices, by 41 percent, so the value of agricultural shears was 99.8 percent. The drastic price increase in the past period was caused by a combination of several factors. The supply and demand-supply disturbances caused by the Covid-19 epidemic have not completely disappeared, and energy prices have also risen in parallel with the restart of the economy. According to the calculations of the World Bank, energy serving as an input has become more expensive globally by an average of 82 percent in one year, mainly due to the drastic price increase of crude oil and natural gas, and fertilizer has gone up by 85 percent. The KSH indicated that problems within the sector, primarily animal health problems, also increased the price increase
War and drought also made the situation difficult
The Russian-Ukrainian war brought food and energy supplies and general uncertainty to the world market. The weather was also unfavorable in the first half of the year in Hungary. The spring frost, followed by a week of rain during the ripening of cherries and strawberries, and since then the national drought worsened the situation. Other European countries are also affected by the drought, the EU’s wheat harvest is expected to be only slightly below the previous year’s amount, but the total corn harvest may be a quarter behind that of 2021. Based on the report of the European Commission, in June 2022, compared to a year earlier, the price of wheat in the EU increased by more than four-fifths on average, corn rose by a quarter, beef and poultry for slaughter also cost a quarter more, while pork, on the other hand, rose in price to a lesser extent.
Related news
The unexpectedly low inflation in June surprised analysts
The Hungarian inflation data published this week caused a pleasant…
Read more >KSH: industrial production fell by 5.2 percent in May
In May, the volume of industrial production fell by 5.2…
Read more >The European breeding inspection of Turkmen horses began in Bábolna
The two-day breeding inspection of Akhal-Teke steppe horses from Turkmenistan…
Read more >Related news
Large companies are resistant to economic uncertainty
Restrained expectations characterize the domestic corporate sector for the next…
Read more >Company trend in 2024: a more positive half-year, but still a negative message
The lowest number of companies in the last five years…
Read more >The Hungarian Marketing Association for the supply of the profession
The Hungarian Marketing Association is actively working for the future…
Read more >