Hungary: Buckwheat Market 2024

Buckwheat Market Size in Hungary

The Hungarian buckwheat market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption continues to indicate a strong increase. Buckwheat consumption peaked in 2022 and is expected to retain growth in the immediate term.

Buckwheat Production in Hungary

In value terms, buckwheat production dropped to $X in 2022 estimated in export price. Overall, production showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Buckwheat production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average yield of buckwheat in Hungary totaled X tons per ha, standing approx. at the previous year's figure. In general, the yield, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. The buckwheat yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the buckwheat harvested area in Hungary reached X ha, approximately equating the previous year's figure. Over the period under review, the harvested area posted buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. The buckwheat harvested area peaked at X ha in 2020; afterwards, it flattened through to 2022.

Buckwheat Exports

Exports from Hungary

In 2022, overseas shipments of buckwheat decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank significantly in the following year.

In value terms, buckwheat exports dropped remarkably to $X in 2022. Over the period under review, exports, however, recorded a measured expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

Slovakia (X tons) was the main destination for buckwheat exports from Hungary, with a X% share of total exports. Moreover, buckwheat exports to Slovakia exceeded the volume sent to the second major destination, Austria (X tons), twofold. France (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and France (X% per year).

In value terms, Slovakia ($X) emerged as the key foreign market for buckwheat exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average buckwheat export price amounted to $X per ton, increasing by X% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buckwheat export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Austria ($X 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 Slovakia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Buckwheat Imports

Imports into Hungary

In 2022, overseas purchases of buckwheat increased by X% to X tons, rising for the third year in a row after four years of decline. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, buckwheat imports skyrocketed to $X in 2022. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Slovakia (X tons) constituted the largest buckwheat supplier to Hungary, accounting for a X% share of total imports. Moreover, buckwheat imports from Slovakia exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Slovakia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Russia (X% per year).

In value terms, the largest buckwheat suppliers to Hungary were Slovakia ($X), Poland ($X) and Russia ($X), with a combined X% share of total imports. Ukraine, Germany, Austria and Slovenia lagged somewhat behind, together comprising a further X%.

Austria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average buckwheat import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buckwheat import price increased by X% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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