Hungary: Food prices are skyrocketing, and this is just the beginning

Published 2021년 11월 22일

Tridge summary

Hungary is experiencing a significant increase in food prices, with cooking oil, margarine, and poultry seeing the highest increases. The price of flour has risen by 12.5 percent, and the price of milled wheat and corn have reached record highs due to high oil and natural gas prices. The cost of production is becoming unaffordable for many, especially in the baking industry where large companies are dominating. The production of turkey meat, which has fallen from 143,000 tonnes in 2004 to 100,000 tonnes in 2021, is expected to decrease further this year due to high energy and other costs. Experts recommend structural reform, a reduction in production costs, and an increase in the share of higher value-added products to compete with large producers.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the data of the CSO, in October they exceeded the level of a year ago by 5.2 percent, but every month they find quite a few types of food, the prices of which have risen sharply. Last month, the price of cooking oil was 30.4, that of margarine 18.8, that of work at work 10.1, that of poultry 9.3, that of pastry 8.4, that of bread 8.1, that of buffet and restaurant 7, It is up 9 percent from last year. There is an oversupply of pork, where producers tend to keep prices, as in the turkey sector, writes Népszava. Flour became 12.5 percent more expensive in one year, but the monthly change was also outstanding, with almost 7 percent more bread in October than in September. And the price close to 200 forints is not engraved in stone either, as the price of milled wheat has risen to an unprecedented height: a tonne is already offered on the commodity exchange for 100 thousand forints. On average, the quality of wheat this year, but the quantity harvested is smaller, about 4 ...
Source: Agrarszektor

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