Takarékbank, grain farmers association sign cooperation agreement

Initiatives

Hungaryʼs Takarékbank has signed a cooperation agreement with the National Association of Grain Farmers, the parties said on Friday.

Under the agreement, Takarékbank will develop financing products tailored to grain farmersʼ needs. It will also provide them with market information and forecasts.

Takarékbank is the “central bank” for Hungaryʼs recently integrated savings cooperatives. Savings cooperatives have 1,500 branches nationwide or a branch in one-third of all towns.

With an output valued at HUF 643 billion, grain held a 26.2% share of Hungaryʼs agriculture sector last year, Takarékbank agricultural analyst Zoltán Fórián noted. Grain is planted on about 2.8 million hectares or two-thirds of farmland in the country, he added.

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