The rise in agricultural product prices accelerated further in Hungary

Published 2021년 10월 13일

Tridge summary

In August, agricultural purchase prices continued to rise for the fourth consecutive month, with a 24.1% increase compared to July. The surge was primarily due to plant products, which saw a 32.7% increase year-over-year. Cereals like wheat and corn experienced significant price hikes, rising by 30.5% and 50.4% respectively from the previous year. While the price of live animals and animal products experienced a moderate increase of 7.9%, the cost of fruits and vegetables varied greatly, with some experiencing significant price increases and others a decrease. Overall, the surge in prices affected a wide range of agricultural commodities, including livestock and dairy products.

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

Original content

In August, the rise in agricultural purchase prices accelerated for the fourth month in a row, from 21.3 per cent in July to 24.1 per cent. In one year, corn became 50 percent more expensive The rise was driven by plant products, with their average price level 32.7 percent higher than a year earlier, up 4.9 percentage points from July. The average annual price increase for live animals and animal products moderated from 9.1 percent in the previous month to 7.9 percent. The purchase price of cereals was 40.3 per cent higher than in August last year: wheat was 30.5 per cent more expensive than in August last year, compared with an annual rise of only 21.2 per cent in the previous month. Corn cost 50.4 percent more, up 10.3 percentage points from the July level. Industrial crops became more expensive by 41.2 per cent, including oilseeds by 44.4 per cent in one year, which is more moderate than the increase of over 50 per cent in the previous month. Potato prices were 23.2 percent ...

Source: Trademagazin