The development potential is there in the soybean sector

Soy production is competitive, but it must be made sustainable (Photo: Pixabay)

The minister pointed out that in these uncertain times, despite the protracted Russian-Ukrainian war, the failed Brussels sanctions and the historic drought, the Hungarian Soybean and Protein Plant Association is working to put soy-related knowledge into practice. Looking at the medium-term and long-term prospects, the sector has the development potential, the appropriate knowledge, as well as the intention and the opportunity, the minister added. He emphasized that in order to continuously strengthen competitiveness, it is essential to modernize the sector and make it sustainable in the long term.

The head of the ministry also spoke about the continued support of soybean growers by the agricultural administration

It is particularly important for them that the subsidies tied to production remain. From the amount available to producers of protein crops, which is 2 percent of the direct support framework, grain protein crops benefit to a greater extent than before. As a result, the annual budget is expected to increase from EUR 13 million to EUR 15.9 million. In the case of cereal protein crops, the planned specific value is 237 euros per hectare from 2023, the minimum value is 163 euros per hectare, and the maximum value is 302 euros per hectare. The value of the subsidies expressed in forints will be fixed year by year in the regulation, the minister reminded.

AM