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Hungary farm gate price rise slows in May

Farm gate prices in Hungary rose 37.6% yr/yr in May, slowing from a 45.2% increase in April, the Central Statistics Office (KSH) said on Wednesday.

May crop prices were 48.9% higher than twelve months earlier, and livestock and animal products prices were up 16.6%, both rising slightly less than the respective increases registered in April.

January-May farm gate prices were up 43.4% yr/yr.

The increases were from a low base as farm gate prices fell 0.2% in the twelve months to May 2010 and were down1.4% yr/yr in January-April 2010. Farm gate prices fell year-on-year until June 2010 before starting to rise at a double-digit pace in July 2010.

In a breakdown by crop type, farm gate prices of cereals, including seeds, were 76.8% more expensive in May than a year earlier. The increase was moderate compared to rises in February and March, when prices more than doubled.

Industrial crop prices were up 21.4%, including a 32.7% rise in oil seed prices, and potato prices increased 34.1%, each increase slowing from the previous months.

Fruit prices jumped 70.6%, more than in April. In contrast, prices of fresh vegetables fell 10.6% after rising 4.0% in April.

Among livestock and animal product prices, prices in all product groups rose less ─ or, in the case of eggs, fell more ─ than in the previous month. The price of cattle for slaughter rose 49.6% in the twelve months to May, the price of live hogs increased 12.1%. Poultry prices were up 12.5% and milk prices climbed 23.3%. Fresh egg prices dropped 3.1% from a year earlier.

In January-May, crop prices rose 59.7% and livestock and animal product prices were up 15.7% from a year earlier.