ADVERTISEMENT

Report: Corn prices expected to stagnate, despite extreme heat

Weather

The extremely hot weather in Hungary is expected to reduce the country’s corn harvest this year, to less than 7 million tons, József Vancsura, the head of the National Grain Growers Association told Hungarian economic daily Világgazdaság today.

The head said that earlier the harvest was expected to reach approximately 9 million tons, approaching last year’s 9.2 million-ton harvest. Vancsura said that due to the extremely hot weather in the past few weeks, damage to the corn harvest is estimated at over HUF 40 bln.

Despite smaller harvest, the prices of corn are not likely to rise substantially Zsófia Posta, head of the Hungarian Grain Processors, Feed Makers and Traders Association, told the paper.

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.