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

Hungary

Published Aug 11, 2021

Tridge summary

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 was 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 the price of raw materials must sooner or later appear in consumer prices, and this process has already begun.

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