Good wheat harvest this year
In its July forecast, the International Grains Council (IGC) predicts a global wheat crop of 801 million tonnes for the 2024-2025 financial year, up 1% vs. the previous season.
This article is available for reading in Trade magazin 2024/8-9
Consumption is expected to be 802 million tonnes, with 269 million tonnes of wheat remaining in storage at the end of the season. According to the Ministry of Agriculture, almost 5 million tonnes of wheat will be produced in Hungary in 2024, with an average yield of 5.8 tonnes/hectare. AKI PÁIR data shows that milling wheat was traded at an average producer price of HUF 73.9 thousand/tonne, excluding VAT and transport costs (+15%) in the last week of July. Feed wheat traded at HUF 65.7 thousand/tonne, the same price as a year earlier.
According to data from the Central Statistical Office (KSH), Hungary’s poultry meat export increased by 4% to 72 thousand tonnes in the first four months of 2024, compared to the same period in 2023. Within this chicken meat export was up 4% at almost 49 thousand tonnes and turkey meat export rose by 28% to 8 thousand tonnes. Meanwhile Hungary’s poultry meat import was down 12% at 26 thousand tonnes over the period. Chicken meat import fell by 29% to 17 thousand tonnes and turkey meat import dropped 44% to 1.6 thousand tonnes. According to AKI slaughtering statistics, 262.1 thousand tonnes (live weight) of poultry were slaughtered in Hungary in the first five months of 2024, 17.1% more than in the same period last year. The European Commission has reported that the average EU price for whole chicken was EUR 266/100 kg in the first 29 weeks of 2024, down 2% on the previous year. //
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