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Hungary farm gate prices drop 9.2 % in May

Food

Farm gate prices in Hungary fell 9.2% year-on-year in May, the Central Statistics Office (KSH) reported today.

Thanks to a good harvest, crop prices were down by 14.8%, while livestock and animal product prices decreased 2.2%. The farm gate price refers to the net price.

Grain prices were down y.o.y. 17.0% in May. Industrial crops declined 11.8%, including a 15.8% drop in the price of oil seeds. Prices of fresh vegetables were down 8.9% and fruit prices fell 8.3%.

Live cattle prices rose 4.3%, hog prices were up 3.4% and poultry prices were down 4.4%. Egg prices fell 4.0% and milk prices increased 11.7%. Farm gate prices of milk and eggs have not changed since January 2014 but the variation is due to a change in the index base, KSH noted.

In January-May 2014, farm gate prices fell 11.1% from a year earlier as prices of crops dipped 17.0% and live animals and animal product prices were up 1.2%.

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