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Hungary farm gate price rise picks up to 48.2% yr/yr in March

Farm gate prices in Hungary rose 48.2% yr/yr in March, faster than the 47.5% twelve-month increase in February, the Central Statistics Office (KSH) said on Thursday.

In January-March 2011, farm gate prices rose 45.2% yr/yr. The increase was from a low base as farm gate prices rose a mere 0.2% yr/yr in January-March 2010. The prices fell yr/yr in the rest of H1 2010 before a double-digit growth started in July 2010.

Farmers' terms of trade improved by 25.1% yr/yr in Q1 as agricultural input prices rose 16.1% in the period.

March crop prices were 67.3% higher than twelve months earlier, and livestock and animal products prices were up 15.5% yr/yr, the former rising slightly less and the latter increasing more than the respective increases registered in February.

Farm gate prices rose 16.8% for the full year of 2010 after a 9.5% decrease in 2009. Crop prices rose 27.6% last year after a 12.7% drop in 2009 and livestock and animal products prices rose 1.8% after declining 4.6% in the previous year.

Farmers terms of trade improved 11.9% in 2010 as agricultural input prices rose well below the rise of farm gate prices, just 4.4% from 2009.