With rising grain prices, it is not worth sitting on stocks

By: STA Date: 2024. 04. 26. 10:00

Cereal prices are rising on the European futures markets, so domestic farmers should pay attention to concluding the appropriate contracts and selling their stocks, said Zsolt Feldman, the State Secretary for Agriculture and Rural Development of the Ministry of Agriculture, at the Farmers’ Forum held in Böhöny on Thursday.

(Photo: AM/Tibor Vermes)

Zsolt Feldman explained that the weather had an unfavorable effect on the French and German fields, from which the farmers will be able to harvest much less of the autumn ears. The effect of this can already be seen on the European futures markets, where grain prices also indicate a substantial increase. Meanwhile, on Tuesday, the European Parliament voted with a large majority to extend the duty-free import of Ukrainian agricultural products for another year – informed the state secretary, highlighting that European and Hungarian farmers cannot compete with Ukrainian farms that produce on hundreds of thousands of hectares owned by international big-capitalist oligarchs. which produce under much milder production conditions. Brussels is funding the war instead of supporting European farmers, thus continuing to cause an agrarian crisis. He reminded that, despite the economic difficulties – the war, falling crop prices and unpredictable weather – in 2023, the value of agricultural payments reached a new record of HUF 1,400 billion, which is almost three times the HUF 533 billion in 2010. About 157,000 farmers have more than He added that it received 527 billion forints of support from EU and national sources until April 21.

Zsolt Feldman drew attention to the government’s measure, according to which the Hungarian State Treasury will ensure the payment of area and animal-based subsidies until May 31. In addition, it provides an additional HUF 45 billion for the Agrár Széchenyi Card program until 2026.

He also mentioned that the Ministry of Agriculture has prepared several calls for tenders for the new rural development tenders starting in the spring, which provide opportunities for the development of the fodder industry, the food industry, animal husbandry and horticulture. Calls for tenders for the processing industry are announced with a budget of 200 billion forints, tenders for the renewal of animal farms are also published with a budget of 200 billion forints, and the development of horticulture is supported by funds with a budget of almost 100 billion forints.