The agricultural economist testified, this sector will be a big loser in food prices in Hungary

Published 2021년 8월 10일

Tridge summary

Agricultural economist György Raskó discusses the significant price increase in key agricultural products such as maize, vegetable oils, and wheat in the spring, the most severe since 2012, with a decrease in prices since May. He notes that rapeseed is experiencing a particular shortage and that consumer prices are expected to rise, especially in Hungary where food prices are already high. Raskó also comments on the potential impact of the fourth wave of the coronavirus on food prices, suggesting that border closures, which had caused issues with guest workers last year, are unlikely to occur. Lastly, Raskó addresses the concept of double standards in food quality within the European Union and Hungary, suggesting that purchasing power plays a role in the perception of product quality.

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Original content

On the question of the Agricultural Sector, agricultural economist György Raskó said that in the spring there was a huge price explosion in the market, which increased the price level of maize, vegetable oils (sunflower, rapeseed, soybean) from wheat. According to the expert, this was pretty much unprecedented, the last time there was such a huge price increase in 2012. However, the world has already overcome this, and since May the price level of all listed products has been seriously corrected - György Raskó pointed out, adding that wheat is currently at a price of 225-260 euros / tonne and a tonne of corn can be sold for 210-260 euros. In contrast, rapeseed is at a terrible level, which will be a serious shortfall. The agricultural economist also talked about the fact that rapeseed can currently be sold at a price of 540-550 euros / ton, but the price level of oils processed in Hungary has risen to a level that has never been higher. According to György Raskó, the rise in raw ...

Source: Agrarszektor