Hungary: Cereals achieved the largest export revenue and foreign trade surplus, followed by food by-products and prepared animal feeds

Published 2021년 4월 3일

Tridge summary

In 2020, the exports of food by-products and prepared animal feeds in Hungary saw a 3.2% increase, reaching 698.3 million euros and the second largest export revenue and foreign trade surplus out of 24 food industry chapters. Despite an increase in import value by 3.3%, their volume decreased by 4.1%. The majority of these feed exports, 77.1%, were sent to the EU, with the UK and Ukraine being significant recipients. Other countries like Russia, Serbia, Turkey, Australia, Bosnia and Herzegovina, Moldova, Brazil, and Switzerland also imported Hungarian feed. Overall, Hungary's agricultural and food exports increased by 2.3%, while imports increased by 0.9%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After cereals, the food by-products and prepared animal feeds group achieved the second largest export revenue and foreign trade surplus out of 24 food industry chapters in 2020, according to a report by the Institute of Agricultural Economics (AKI). Exports of these products amounted to 698.3 million euros (140 billion forints) last year, 3.2 percent more than in 2019. In the case of imports, it is interesting that while its value increased by 3.3 percent to 320 million euros (112 billion forints), its volume fell by 4.1 percent to 364.4 thousand tons - ie it was more expensive to procure these products from abroad. The largest feeds came from Germany (€ 64.1 million), Austria (€ 49.5 million) and Poland (€ 33.8 million). In many cases, it is worth exporting feed as a finished product with added valuePhoto: Árpád Kurucz The value of total agricultural and food exports increased by 2.3 percent, imports by 0.9 percent, the balance improved by 5.3 percent in 2020: exports amounted ...

Source: Magyarnemzet