Hungary: According to forecasts, domestic feed production may expand by twenty percent in 2024

The Hungarian feed industry basically serves domestic needs, regardless of the fact that certain sectors of animal husbandry, especially the poultry sector, are particularly export-oriented. Only roughly 5 percent of all feed produced here, 150-250 thousand tons of feed per year, is exported, primarily to Romania. In 2021, about 50 percent of all feed produced in Hungary was produced for poultry, about a third for pigs, and about another 12 percent for ruminants (primarily cattle), the amount of other feed in addition to these amounted to approximately 120,000 tons. These rates have basically not changed last year either. According to Péter Zoltán, an expert of the UBM Group, the prices of raw materials for animal feed normalized last year, and in 2024 it is expected that neither downwards nor upward will significantly move from the current levels. In terms of input costs and energy prices, the sector-shattering event is not expected this year. Founded in 1996, UBM is one of the ...