Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary - 2023
Contents:
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary (CIF) - 2023
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary (FOB) - 2023
- Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary
- Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary (CIF) - 2023
In October 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,226 per ton, with a decrease of -42.5% against the previous month. In general, the import price saw a abrupt setback. The pace of growth was the most pronounced in January 2023 when the average import price increased by 9.9% month-to-month. Over the period under review, average import prices reached the peak figure at $2,636 per ton in May 2023; however, from June 2023 to October 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Ukraine ($3,762 per ton), while the price for Indonesia ($1,062 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Poland (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary (FOB) - 2023
In October 2023, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,844 per ton, falling by -10.7% against the previous month. Overall, the export price continues to indicate a slight setback. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 7.5% month-to-month. As a result, the export price reached the peak level of $2,308 per ton. From May 2023 to October 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was Kosovo ($2,993 per ton), while the average price for exports to Thailand ($1,363 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary
In 2022, purchases abroad of liquid margarine and edible mixtures of animal or vegetable fats decreased by -5% to 10K tons, falling for the second consecutive year after two years of growth. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 15%. As a result, imports reached the peak of 15K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats soared to $22M in 2022. The total import value increased at an average annual rate of +10.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 1.6 | 2.4 | 3.5 | 5.8 | 53.6% |
| Germany | 6.3 | 5.4 | 4.4 | 4.8 | -8.7% |
| Netherlands | 1.5 | 1.8 | 3.2 | 3.7 | 35.1% |
| Sweden | 1.4 | 1.2 | 1.8 | 1.5 | 2.3% |
| Austria | 1.0 | 1.1 | 1.3 | 1.2 | 6.3% |
| Malaysia | 1.0 | 1.1 | 1.1 | 1.0 | 0.0% |
| Poland | 2.0 | 4.0 | 0.5 | 0.9 | -23.4% |
| Indonesia | 0.4 | 0.7 | 0.9 | 0.9 | 31.0% |
| Cyprus | N/A | N/A | 0.1 | 0.9 | 800.0% |
| Others | 1.1 | 1.0 | 2.0 | 1.8 | 17.8% |
| Total | 16.4 | 18.7 | 18.8 | 22.3 | 10.8% |
Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Hungary in 2022:
- Germany (2.6K tons)
- Belgium (2.1K tons)
- Netherlands (1.5K tons)
- Austria (0.7K tons)
- Sweden (0.6K tons)
- Indonesia (0.5K tons)
- Malaysia (0.5K tons)
- Cyprus (0.5K tons)
- Poland (0.4K tons)
Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary
In 2022, the amount of liquid margarine and edible mixtures of animal or vegetable fats exported from Hungary expanded markedly to 8.7K tons, surging by 5.7% on the previous year's figure. Over the period under review, exports, however, saw a pronounced setback. The growth pace was the most rapid in 2020 when exports increased by 27% against the previous year. As a result, the exports reached the peak of 12K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats surged to $17M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.3% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 3.7 | 6.0 | 2.6 | 3.9 | 1.8% |
| Croatia | 1.5 | 1.3 | 2.0 | 2.5 | 18.6% |
| Morocco | 0.4 | 0.1 | 0.3 | 1.7 | 62.0% |
| Bulgaria | 0.4 | 1.0 | 1.0 | 1.5 | 55.4% |
| Italy | N/A | N/A | 0.1 | 1.4 | 1300.0% |
| Serbia | 0.7 | 0.4 | 0.6 | 1.1 | 16.3% |
| Slovakia | 1.1 | 1.1 | 1.4 | 1.1 | 0.0% |
| Slovenia | 0.2 | 0.3 | 0.5 | 0.7 | 51.8% |
| Austria | 1.2 | 1.4 | 1.3 | 0.5 | -25.3% |
| Others | 1.9 | 1.5 | 2.2 | 2.2 | 5.0% |
| Total | 11.0 | 13.1 | 12.2 | 16.7 | 14.9% |
Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Hungary in 2022:
- Romania (1915.1 tons)
- Croatia (1120.3 tons)
- Morocco (898.5 tons)
- Bulgaria (853.7 tons)
- Italy (725.6 tons)
- Slovakia (606.8 tons)
- Serbia (519.4 tons)
- Slovenia (435.4 tons)
- Austria (400.9 tons)
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