Drastic downturn in Hungary’s banana export

Data from the latest report of the Agricultural Economics Research Institute (AKI) reveal that the price of pig rose on the world market in 2011. In Hungary the production price of slaughter pig grew by 12 percent to HUF 403/kg.

However, the new year started with a trend reversal as early January prices dropped in both the European Union and Hungary. Poultry meat production in the EU grew by 1 percent in 2011, while in Hungary the live weight production price of broiler chicken soared 17 percent. According to statistical data from KSH, Hungary’s tropical fruit import fell 14 percent to 106.4 thousand tons in the first ten months of 2011. Within this banana import plummeted 32 percent to 49.57 thousand tons; our banana re-export – which constitutes one quarter of fresh fruit export and its main target is Romania – reduced by 42 percent to 21.5 thousand tons.