Hungary: Sugar Market 2024

Sugar Market Size in Hungary

The Hungarian sugar market surged to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Sugar consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Sugar Production in Hungary

In value terms, sugar production rose sharply to $X in 2022 estimated in export price. In general, the total production indicated noticeable growth 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of sugar in Hungary was estimated at less than X kg per ha in 2022, approximately equating 2021 figures. In general, the yield saw 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.

In 2022, the harvested area of sugar in Hungary amounted to less than X ha, approximately mirroring 2021. In general, the harvested area recorded a relatively flat trend pattern.

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Sugar Exports

Exports from Hungary

In 2022, overseas shipments of sugar increased by X% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, saw a dramatic decrease. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, sugar exports rose sharply to $X in 2022. Overall, exports, however, faced a precipitous descent. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons) was the main destination for sugar exports from Hungary, accounting for a X% share of total exports. Moreover, sugar exports to Romania exceeded the volume sent to the second major destination, Croatia (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Romania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Germany (X% per year).

In value terms, Romania ($X) remains the key foreign market for sugar exports from Hungary, comprising X% of total exports. The second position in the ranking was taken by Croatia ($X), with a X% share of total exports. It was followed by the Czech Republic, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Romania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and the Czech Republic (X% per year).

Export Prices by Country

In 2022, the average sugar export price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

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

Sugar Imports

Imports into Hungary

In 2022, overseas purchases of sugar increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sugar imports soared to $X in 2022. Overall, imports, however, continue to indicate a perceptible descent. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Africa (X tons) constituted the largest sugar supplier to Hungary, accounting for a X% share of total imports. Moreover, sugar imports from South Africa exceeded the figures recorded by the second-largest supplier, Croatia (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (X% per year) and Italy (X% per year).

In value terms, South Africa ($X) constituted the largest supplier of sugar to Hungary, comprising X% of total imports. The second position in the ranking was held by Croatia ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from South Africa was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (X% per year) and Italy (X% per year).

Import Prices by Country

The average sugar import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price recorded a noticeable downturn. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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