Meat market exposed to changes in exchange rates

By: trademagazin Date: 2009. 03. 05. 08:00

Global trends in the meat and poultry markets are monitored by the Agricultural Business Research Institute (AKI). Data from the market price information system of KSH and AKI can be useful for even short term business decisions. Changes in exchange rates exert a substantial influence on trade. The USD price of swine and pork was up by 1,6 percent last year, but dropped by 5 percent expressed in HUF. Prices in the EU-rose at a faster rate than n the US last year. Prices in Hungary conformed to the EU average price, being 18 percent higher in 2008 than in 2007. Fodder prices produced the biggest rise, with the price of pork rising at a slower rate. While prices in the EU dropped in January 2008, they began to rise again in February. Egg production continued to decline in the EU in 2008. Prices conformed to seasonal changes in demand. With the HUF weakening substantially, the import of eggs was down by a quarter in 2008.

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