Hungary farm gate prices up 0.3% in January

Food

Farm gate prices in Hungary rose 0.3% year-on-year in January, grinding almost to a halt from a 10.0% increase in December, the Central Statistics Office (KSH) said on Tuesday.

Crop prices fell 6.2%, and grain prices slid 6.1% yr/yr in January after adding 4.7% and 4.2% respectively in December.

Livestock and animal product prices climbed 15.3% in the twelve months to January, following a 20.2% yr/yr rise in December.

However, individual products prices moved in a wide range.

Fruit prices were 10.8% down yr/yr after climbing 17.1% in December, while producer prices of potato sank 54.5% after falling 12.7% in December.

Cattle cost 12.3% less than a year ago being up by 42.3% yr/yr in December. Milk went up 11.6% yr/yr after adding 19.8% in December. Hog was up 28.3% after being 9.8% more expensive yr/yr in December. Poultry producer prices were up 9.9% after 15.5% up yr/yr in December, and eggs cost 22.5% more after being up 1.5% yr/yr in December.

Farm gate prices in 2011 were up 19.3% from 2010 on average, slowing from yr/yr leaps of almost 50% at the start of the year to 10% at the end of 2011, as crop prices rose 21.6% on average and livestock and animal products prices rose 15.3% in the period.

Farm gate prices fell year-on-year until June 2010 before starting to rise from a low base at a double-digit pace in July 2010.

Farmers' terms of trade improved 5.7% in 2011 as agricultural input prices rose 12.9% from the previous year, less than the 19.3% rise in farm gate prices.

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