AKI: producer prices for wheat and corn decreased compared to last year

By: STA Date: 2023. 03. 29. 10:00

The prices of food wheat, feed wheat and feed corn in Hungary have decreased significantly compared to last year, but none of them have yet reached the level of 2021 – reads the report of the Agricultural Economics Institute (AKI).

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The producer price of edible wheat excluding VAT and transport costs was HUF 88.2 thousand per ton, a decrease of 19 percent in one year. The price of fodder wheat decreased by 13 percent, to HUF 86.5 thousand per ton. Feed corn became cheaper by 11 percent compared to the same period last year, in the third week of March it cost HUF 92.3 thousand per ton. The same amount of industrial sunflower seeds cost HUF 189.9 thousand according to the total, the annual price decrease is 28 percent.

According to the March data, wheat and corn are also becoming cheaper worldwide, the AKI pointed out

Experts expect a slowdown in international demand, while Australia could achieve a record wheat harvest. The significant supply has also brought down the price of corn, and the international market for oilseeds is also showing a decline – the institute’s summary states.

MTI