Hungary: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Hungary

After three years of decline, the Hungarian market for broad beans and horse beans (dry) increased by X% to $X in 2023. Over the period under review, consumption saw a buoyant expansion. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Production of Broad Beans And Horse Beans (Dry) in Hungary

In value terms, broad bean and horse bean production reduced markedly to $X in 2023 estimated in export price. In general, production saw resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

The average yield of broad beans and horse beans (dry) in Hungary skyrocketed to X tons per ha in 2023, rising by X% on 2022. In general, the yield recorded a measured increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the average broad bean and horse bean yield attained the maximum level at X tons per ha in 2021; however, from 2022 to 2023, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The broad bean and horse bean harvested area in Hungary reduced sharply to X ha in 2023, which is down by X% against the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2022 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha, and then contracted rapidly in the following year.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Hungary

In 2023, overseas shipments of broad beans and horse beans (dry) decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Over the period under review, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, broad bean and horse bean exports shrank remarkably to $X in 2023. Overall, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Switzerland (X tons) was the main destination for broad bean and horse bean exports from Hungary, accounting for a X% share of total exports. Moreover, broad bean and horse bean exports to Switzerland exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold.

From 2012 to 2023, the average annual growth rate of volume to Switzerland amounted to X%.

In value terms, the largest markets for broad bean and horse bean exported from Hungary were Switzerland ($X) and the Netherlands ($X).

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average export price for broad beans and horse beans (dry) stood at $X per ton in 2023, jumping by X% against the previous year. In general, the export price continues to indicate modest growth. The export price peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Switzerland amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Broad Beans And Horse Beans (Dry)

Imports into Hungary

Broad bean and horse bean imports into Hungary skyrocketed to X tons in 2023, with an increase of X% compared with the year before. In general, imports showed significant growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, broad bean and horse bean imports skyrocketed to $X in 2023. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Germany (X tons) was the main broad bean and horse bean supplier to Hungary, with a X% share of total imports. Moreover, broad bean and horse bean imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2013 to 2023, the average annual rate of growth in terms of volume from Germany amounted to X%.

In value terms, Germany ($X) constituted the largest supplier of broad beans and horse beans (dry) to Hungary, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2013 to 2023, the average annual rate of growth in terms of value from Germany totaled X%.

Import Prices by Country

In 2023, the average import price for broad beans and horse beans (dry) amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a temperate increase. The growth pace was the most rapid in 2022 an increase of X%. The import price peaked in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States stood at $X per ton.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform