Hungarian foreign trade in milk and milk products shows a negative trend

Published 2024년 4월 3일

Tridge summary

Over the past year, Hungary has experienced a shift in its dairy sector, resulting in a negative foreign trade balance for milk and milk products. This change is attributed to an increase in imports, particularly from Slovakia, and a decrease in exports, notably in soured dairy products and cheese. The implementation of an official price cap on UHT milk has significantly influenced domestic sales and consumption patterns. Despite a rise in the cow population, the dwindling number of dairy farmers presents a challenge. The Hungarian dairy industry is currently facing difficulties, with adverse trade balance and production trends signaling tough times ahead.

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

Original content

In the past year, Hungarian foreign trade in milk and milk products showed significant changes, as a result of which the balance of the sector turned negative. According to the data of the Milk Trade Organization and Product Council, imports continued to rise in 2023, while exports decreased significantly compared to the previous year. One of the reasons for the transformation of liquid milk consumption in Hungary was the introduction of the official price cap, which resulted in a significant drop in domestic sales of UHT milk with a fat content of 1.5 percent. At the same time, demand for 2.8 percent UHT milk increased after official prices were extended to them as well. The most significant changes in imports included an increase in the import of raw and consumer milk, as well as a significant increase in Slovakian milk imports. There were also changes in the import of more processed dairy products, while the export of soured dairy products and cheese decreased, while the export ...

Source: Trademagazin