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Hungary farm gate prices jump 24.4% in October

Farm gate prices in Hungary rose 24.4% year-on-year in October, accelerating from a 20.7% increase in the previous month, the Central Statistics Office (KSH) said on Thursday. The price of crops jumped 33.1% during the period. The price of live animals and animal products increased 9.6%. Crop prices has risen at an accelerating pace since the middle of the year after yr/yr drops in the first six months partly on base effects. The rise of live animals and animal products prices slowed from 10.9% in September. Potatoe prices jumped 47.2% yr/yr but were still below their level two years earlier, KSH noted. Grain prices rose by 38.7% yr/yr. Wheat cost on average HUF 66,400 per tonne in October, up 2.8% in a month while maize prices dropped about 5% to HUF 58,300 from September as large amounts reached the market. Industrial crop prices rose 17.3% yr/yr. Fresh vegetable prices jumped 33.5% in twelve months and fruit prices rose 18.5%.