Agricultural exports: the shortage of corn left a heavy burden in Hungary

Maize (Corn)

Soybean

Published Dec 29, 2023

Tridge summary

Import restrictions on agricultural products from Ukraine are in effect, leading to only an 8-9% decrease in imported grain compared to the previous year. The emptying of domestic warehouses before the harvest of the corn crop became urgent, leading to decreased export figures. The decline in seaborne exports was softened by an increase in wheat exports, while the average export price of corn increased by 27%.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

From April 19 this year, import restrictions on all important agricultural products from Ukraine are in effect. However, the amount of imported grain decreased by only 8-9% this year compared to the first nine months of last year. In the meantime, the emptying of domestic warehouses became urgent before the harvest of the promised excellent corn crop. We sold what could be sold. Our export figures mostly show that little (and even less quality) corn was produced last year. This also worsened the balance of our agricultural foreign trade the most: in the first nine months of 2023, our assets were 15% smaller than in 2022, according to AKI's statistical report. The export value of cereals fell by 10.6% this year, but the exported quantity, contrary to subjective impressions, did not change. Nearly 4 million tons of grain were sold on foreign markets until the end of September, of which 2 million tons were wheat, 921.3 thousand tons of corn and 917.3 thousand tons (!) of barley. In a ...

Source: MezoHir