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Hungarian farm gate prices rise first time since August 2008 in January

Farm gate prices in Hungary increased 3.6% in the twelve months to January 2010 after 16 months of decline, as crop prices rose 7.5% and livestock and animal product prices fell 2.3% in the period, the Central Statistical Office (KSH) reported.

The increases were from a low base, as farm gate prices fell 27.9% yr/yr in January 2009, as crop prices dropped by more than a third in one year and livestock and animal product prices fell 3.5%.

Farm gate prices dropped yr/yr every month between August 2008 and December 2009. The drop slowed to 1.6% yr/yr in December.

Crop prices rose now for the second month in a row. The increase came after a 1.6% twelve-month increase in December, the first twelve-month increase posted since July 2008.

Livestock and animal product prices has declined steadily yr/yr starting January 2009. The twelve-month decline slowed further from a 6.0% drop in December.

Farm gate prices fell 9.5% in 2009 as crop prices fell 12.7% and livestock and animal product prices fell 4.6% on 2008. (MTI – Econews)