Agri-businesses have high hopes for 2024

By: Trademagazin editor Date: 2024. 02. 20. 17:34

Agricultural businesses are once again positive about the future, according to the latest 4th quarter results of the K&H agriculture index.

This article is available for reading in Trade magazin 2024/2-3

Their confidence has jumped from 10 points in the 3rd quarter to 12 points, bringing expectations back into positive territory. “In the 3rd quarter of 2023, the added value in agriculture grew by 88.2% year-on-year, according to data from the Central Statistical Office (KSH), reflecting a lower base, but this good performance also manifests in the sentiment of firms, as they are entering 2024 with higher hopes”, said Zoltán Demeter, head of agribusiness at K&H. The positive sentiment is most palpable in financial expectations: companies forecast a 6.5% rise in sales and a 4.6% growth in profits, compared with 4.7% and 2.3% percent, respectively, in the previous quarter. //