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Agriculture revenues triple in 2005

Hungarian agricultural revenue tripled in 2005 compared to the previous year, a farm ministry official said at a conference in Budapest on Thursday. According to preliminary figures for 2005, revenues before tax totaled around Ft 60 billion, or €239 million, up from Ft 19 billion (€76 million) in 2004, said agriculture ministry state secretary András Pásztóhy. He said this year's agricultural budget was a total of Ft 412 billion, or €1.6 billion, including European Union funds. Around Ft 168 billion will be spent on developments in the sector such as converting one million hectares of land to support crops suitable for conversion into fuels such a bioethanol.