Takarék AgrárTrend Index decreases further

On a 48-point scale, the Takarék AgrárTrend Index dropped to 29.5 points in the last quarter of 2022. Compared with the previous quarter, the decline was 0.1 points, and the index was down 2.2 points from the same period of 2021. It made the situation of the arable land sector worse that a lot of farmers waited too long for selling their produce, so processing companies finally decided to look for new partners. 5-6% less chicken and 10% less turkey were slaughtered. From the summer dairy production started growing again in the European Union, but demand for milk and dairy products dropped in China, which affected EU exports. Perspectives improved for pig farmers in the last quarter of 2022.

Dávid Hollósi, managing director of MKB Bank and Takarékbank’s agricultural and food division: “A new era has begun in agriculture. We have to decide which sectors are those where Hungary can make a breakthrough, and this requires a long-term development strategy. Banks have the necessary knowledge, stability and expertise to give a helping hand in this process, so partners can rely on us.” //