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Kopint-Tárki sees Hungary farm sector contracting 10-15% in 2009

  Market research institute Kopint-Tárki sees Hungary’s farm sector contracting 10-15% from a high base, as input use drops because of financial problems and last year’s good weather is not matched, chief researcher Marton Szabó said on Thursday, presenting the latest Kopint-Tárki Agrármonitor, prepared together with Agrár Europa.

Falling real incomes will probably cause Hungary’s food market to contract 2-3%, although the weaker forint could help farm exports reach last year’s levels, Szabó said.

After suffering a year of drought and frost in 2007, Hungary’s farm sector expanded a marked 43% in 2008. The country’s wheat harvest rose 42% and the maize harvest grew 123%. (MTI-Econews)