The poultry sector had a difficult year

By: Trademagazin Date: 2024. 06. 03. 12:25

2023 was a challenging year for Hungary’s poultry industry, as reported by Agrárszektor. Despite a significant reduction in energy and feed costs, the sector faced substantial losses due to avian influenza and pressure from the influx of Ukrainian goods into EU and domestic markets. This combination led to production volumes falling short of expectations, with the total output not reaching the 700,000-ton threshold.

Performance varied significantly among companies. Taravis increased its after-tax profits from 1.7 billion HUF to 1.83 billion HUF, despite a decrease in operating results. Conversely, Master Good saw its operating profit drop from 15 billion HUF to 10 billion HUF, with after-tax profits decreasing by 3 billion HUF, compounded by rising interest expenses.

Gallicoop experienced the toughest year, although specific details about its performance were not disclosed. The challenges facing the Hungarian poultry industry underscore the need for adaptation to ever-changing external conditions while maintaining competitiveness in both domestic and international markets.