Hungary: Oil Crops Market 2024

Oil Crops Market Size in Hungary

In 2022, the Hungarian oil crops market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, the total consumption indicated a strong increase from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2017; afterwards, it flattened through to 2022.

Oil Crops Production in Hungary

In value terms, oil crops production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

In 2022, the average oil crops yield in Hungary amounted to X tons per ha, flattening at 2021 figures. In general, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the average oil crops yield remained 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, approx. X ha of oil crops (primary) were harvested in Hungary; approximately reflecting the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2018 to 2022, the growth of the oil crops harvested area remained at a lower figure.

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Oil Crops Exports

Exports from Hungary

In 2022, overseas shipments of oil crops (primary) decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports recorded a pronounced downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, oil crops exports totaled $X in 2022. In general, exports saw a slight reduction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Austria (X tons), Germany (X tons) and the Czech Republic (X tons) were the main destinations of oil crops exports from Hungary, with a combined X% share of total exports. Italy, Romania, the Netherlands, Serbia, Slovakia and Poland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and the Czech Republic ($X) appeared to be the largest markets for oil crops exported from Hungary worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, the Czech Republic, 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 oil crops export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price continues to indicate a perceptible increase. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Austria ($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.

Oil Crops Imports

Imports into Hungary

For the fourth year in a row, Hungary recorded growth in overseas purchases of oil crops (primary), which increased by X% to X tons in 2022. Over the period under review, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil crops imports soared to $X in 2022. Overall, imports enjoyed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Romania (X tons) and Slovakia (X tons) were the main suppliers of oil crops imports to Hungary, with a combined X% share of total imports. Croatia, Serbia, Germany, Poland and Austria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Romania ($X) and Slovakia ($X) appeared to be the largest oil crops suppliers to Hungary, together accounting for X% of total imports. Croatia, Germany, Serbia, Austria and Poland lagged somewhat behind, together comprising a further X%.

Croatia, with a CAGR of X%, recorded the highest growth rate of 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 oil crops import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price showed a mild setback. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 Germany ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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