Hungary: Chicory Market 2024

Chicory Market Size in Hungary

The Hungarian chicory market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption enjoyed significant growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Chicory Production in Hungary

In value terms, chicory production totaled less than $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a precipitous decline. The pace of growth was the most pronounced in 2016 with a decrease of X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of chicory in Hungary was estimated at less than X kg per ha, flattening at 2021 figures. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The chicory harvested area in Hungary stood at less than X ha in 2022, leveling off at 2021. Overall, the harvested area recorded a relatively flat trend pattern.

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Chicory Exports

Exports from Hungary

In 2022, after two years of growth, there was significant decline in shipments abroad of chicory, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, chicory exports dropped slightly to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Brazil (X tons) was the main destination for chicory exports from Hungary, with a X% share of total exports. Moreover, chicory exports to Brazil exceeded the volume sent to the second major destination, Mexico (X tons), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2015 to 2022, the average annual growth rate of volume to Brazil amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Brazil ($X) remains the key foreign market for chicory exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2015 to 2022, the average annual rate of growth in terms of value to Brazil totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average chicory export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a significant decline. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per ton) and Argentina ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced mixed trend patterns.

Chicory Imports

Imports into Hungary

In 2022, chicory imports into Hungary dropped to X tons, with a decrease of X% compared with 2021 figures. Over the period under review, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, chicory imports surged to $X in 2022. Overall, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest chicory supplier to Hungary, accounting for a X% share of total imports. Moreover, chicory imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold.

From 2013 to 2022, the average annual growth rate of volume from India stood at X%.

In value terms, India ($X) constituted the largest supplier of chicory to Hungary, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports.

From 2013 to 2022, the average annual growth rate of value from India amounted to X%.

Import Prices by Country

In 2022, the average chicory import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated resilient growth from 2013 to 2022: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chicory 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.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for India amounted to $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Source: IndexBox Platform

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