Hungary farm gate prices surge 35% yr/yr in June

Food

Farm gate prices in Hungary rose 35.3% yr/yr in June, slowing from 37.6% in May and 45.2% in April, the Central Statistics Office (KSH) said on Tuesday.

June crop prices were 46.7% higher yr/yr after adding 48.9% in May. Livestock and animal products prices were up 15.0% yr/yr after increasing 16.6% in May.

January-June farm gate prices were up 41.4% yr/yr.

The increases were from a low base as farm gate prices fell 0.6% in the twelve months to June 2010 and were up 0.2% yr/yr in January-June 2010. Farm gate prices fell year-on-year until June 2010 before starting to rise at a double-digit pace in July 2010.

In a breakdown by crop type, farm gate prices of cereals, including seeds, were 80.8% more expensive yr/yr in June after a plus of 76.8% in May. The increase was still moderate compared to rises in February and March, when prices more than doubled yr/yr.

Industrial crop prices were up 18.9% yr/yr after rising 21.4% in May, including a 28.9% rise in oil seed prices after increasing 32.7 in May, and potato prices were up down 8.0% yr/yr after rising 34.1% in May.

Fruit prices rose 27.9% yr/yr after jumping 70.6% in May. In contrast, prices of fresh vegetables fell 13.7% yr/yr after decreasing 10.6% in May.

Among livestock and animal product prices, the price of cattle for slaughter rose 52.9% yr/yr after adding 49.6% in May. The price of live hogs increased 1.1% yr/yr after 12.1% in May. Poultry prices were up 20.9% yr/yr after rising 12.5% in May. Milk prices climbed 24.3% yr/yr, also faster than the 23.3% in May. Fresh egg prices dropped 5.9% from a year earlier after a fall of 3.1% in May.

In January-June, crop prices rose 56.6% and livestock and animal product prices were up 15.6% from a year earlier.

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