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Hungarian farm gate prices drop 3.0% in 2008

  Farm gate prices in Hungary fell 3.0% in 2008 as crop prices fell 14.9% and livestock prices rose 13.6% on 2007, the Central Statistics Office (KSH) reported on Thursday.

In December alone, crop prices fell 38.0% yr/yr after a twelve-month decline of 39.6% in November. December livestock prices were up 1.7% as the twelve-month increase slowed from 4.1% in November. Farmgate prices were down 22.6% yr/yr.

Farmers’ terms of trade worsened a sharp 15.7% in 2008 as agricultural input prices rose 15.0%, well above the 3% increase in farmgate prices, KSH reported.

The price of farming investment goods and services rose 4.8% last year, and the price of goods and services currently used in agriculture rose 16.6% in 2008. (MTI-Econews)