Price for Article of Natural Cork in Hungary - 2023

Price for Article of Natural Cork in Hungary (CIF) - 2023

The average article of natural cork import price stood at $18,122 per ton in July 2023, shrinking by -35.7% against the previous month. Overall, the import price, however, enjoyed a temperate expansion. The growth pace was the most rapid in September 2022 an increase of 103% m-o-m. Over the period under review, average import prices hit record highs at $28,168 per ton in June 2023, and then reduced rapidly in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Austria ($82,742 per ton), while the price for China ($4,404 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Austria (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Article of Natural Cork in Hungary (FOB) - 2022

The average article of natural cork export price stood at $18,680 per ton in 2022, falling by -29.8% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2016 when the average export price increased by 187%. Over the period under review, the average export prices hit record highs at $115,587 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($40,025 per ton), while the average price for exports to Bulgaria ($7,822 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+39.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Article of Natural Cork in Hungary

For the fourth consecutive year, Hungary recorded growth in overseas purchases of articles of natural cork, which increased by 10% to 185 tons in 2022. Overall, imports posted significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 103% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, article of natural cork imports reduced modestly to $2.1M in 2022. In general, imports, however, recorded a deep slump. The growth pace was the most rapid in 2021 when imports increased by 11%.

Import of Article of Natural Cork in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Portugal	3,443	1,691	1,739	1,526	-23.8%
Austria	80.0	29.0	119	163	26.8%
China	8.0	7.5	35.2	140	159.6%
Italy	211	74.2	133	111	-19.3%
France	19.9	53.6	87.3	69.8	51.9%
Slovakia	33.3	17.2	43.1	53.2	16.9%
Spain	12.0	18.2	22.1	46.4	57.0%
Poland	53.4	101	34.8	3.9	-58.2%
Others	19.5	25.0	24.6	20.6	1.8%
Total	3,880	2,016	2,238	2,134	-18.1%

Top Suppliers of Article of Natural Cork to Hungary in 2022:

Portugal (125.6 tons)
China (23.6 tons)
Austria (14.1 tons)
Slovakia (9.4 tons)
France (3.9 tons)
Italy (3.2 tons)
Spain (3.1 tons)
Poland (0.8 tons)

Exports of Article of Natural Cork in Hungary

For the fourth consecutive year, Hungary recorded growth in shipments abroad of articles of natural cork, which increased by 11% to 10 tons in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 186%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, article of natural cork exports reduced dramatically to $189K in 2022. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +5.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of $242K, and then fell rapidly in the following year.

Export of Article of Natural Cork in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Poland	41.7	62.2	133	39.2	-2.0%
Romania	39.4	21.3	31.8	35.2	-3.7%
Germany	1.3	N/A	N/A	27.3	175.9%
Slovakia	27.7	17.8	22.9	25.4	-2.8%
Italy	1.8	N/A	N/A	9.8	75.9%
Belgium	N/A	N/A	N/A	6.7	0%
Serbia	N/A	0.1	2.6	6.6	712.4%
Ukraine	2.8	8.8	5.1	5.8	27.5%
Czech Republic	7.9	8.2	12.8	5.1	-13.6%
Croatia	18.1	27.5	16.4	4.7	-36.2%
Bulgaria	5.1	18.8	5.3	4.0	-7.8%
Spain	N/A	N/A	N/A	2.9	0%
Slovenia	2.3	7.6	4.6	1.9	-6.2%
Others	11.5	21.5	8.0	14.4	7.8%
Total	160	194	242	189	5.7%