Low wheat prices

According to Vancsura József, President of the National Association of Cereal Growers the wheat prices are 20-25 percent lower, compared to the same period of last year.

In addition, there is no demand for Hungarian wheat abroad. Both buyers and sellers are waiting. In the absence of demand, stock quotes are continuosly reducing. At the Budapest Stock Exchange, 28-29 thousand HUF is  paid for wheat per tonne. Last year's price was 38-40 thousand HUF per tonne. The Black Sea port price is currently around 31 thousand, HUF so the 30 thousand HUF per tonne starting price is high. Thus there is no foreign demand for Hungarian wheat – reports MTI.