Takarékbank AgrárTrend Index falls in Q3
Takarékbank's gauge of sentiment in the farm and food sectors fell in the third quarter as livestock farmers' negative outlook countered the positive expectations of grain farmers enjoying a sellers' market, according to mfor.hu.
The Takarék AgrárTrend Index stood at 31.4 points in Q3, edging down 0.7 of a point from the previous quarter.
A value over 35 on the 48-point index signals above neutral growth. Among livestock farmers, poultry farmers were the most optimistic, able to build higher feed costs into farm gate prices, except for turkey prices. Hog farmers, hit by a global glut, were the most pessimistic.
Takarékbank analyst Csaba Héjja said the increase in the minimum wage next year would have a "significant impact" on the cost structure of Hungary's food industry.
Next year, the government is advocating a more than 19% increase in the minimum wage at talks with unions and employers.
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