Hungary: Hemp Tow Market 2024

Hemp Tow Market Size in Hungary

The Hungarian hemp tow market declined to $X in 2022, which is down by X% against the previous year. In general, consumption faced a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Hemp Tow Production in Hungary

In value terms, hemp tow production shrank to $X in 2022 estimated in export price. Over the period under review, production faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Hemp tow production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average hemp tow yield in Hungary totaled X tons per ha, approximately reflecting 2021. Overall, the yield, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the average hemp tow yield attained the peak level at X tons per ha in 2013; however, from 2014 to 2022, the yield remained at a 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 total area harvested in terms of hemp tow production in Hungary declined modestly to X ha, which is down by X% against the year before. Over the period under review, the harvested area saw a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to hemp tow production attained the maximum at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Hemp Tow Exports

Exports from Hungary

Hemp tow exports from Hungary skyrocketed to X tons in 2022, increasing by X% on 2021 figures. Overall, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, hemp tow exports soared to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for hemp tow exports from Hungary, accounting for a X% share of total exports. Moreover, hemp tow exports to Germany exceeded the volume sent to the second major destination, Austria (X tons), fivefold. The third position in this ranking was taken by Slovakia (X kg), with a X% share.

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

In value terms, the largest markets for hemp tow exported from Hungary were Slovakia ($X), Germany ($X) and Austria ($X), with a combined X% share of total exports.

Among the main countries of destination, Germany, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hemp tow export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price showed a abrupt slump. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Germany ($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 Finland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hemp Tow Imports

Imports into Hungary

In 2022, imports of hemp tow into Hungary soared to X tons, growing by X% on 2021 figures. Over the period under review, imports recorded significant growth. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, hemp tow imports stood at $X in 2022. In general, imports showed strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest hemp tow supplier to Hungary, accounting for a X% share of total imports. Moreover, hemp tow imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Italy (X% per year).

In value terms, the largest hemp tow suppliers to Hungary were Germany ($X), Italy ($X) and Poland ($X), with a combined X% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 hemp tow import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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