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Hungary farm gate prices down 4.5% in February

EU

Farm gate prices in Hungary fell 4.5% year-on-year in February, after a meagre 0.3% rise in January, the Central Statistics Office (KSH) said on Tuesday.

Crop prices fell 11.6%, and grain prices slid 13.5% yr/yr in February after loosing 6.2% and 6.1% yr/yr respectively in January. Livestock and animal product prices climbed 13.1% in the twelve months to February, following a 15.3% yr/yr rise in January.

Individual products prices moved in a wide range.

Fruit prices were 1.3% down yr/yr after falling 10.8% in January, while producer prices of potato sank 58.5% after falling 54.5% in January.

Cattle cost 4.1% less than a year ago after being down 12.3% yr/yr in January. Milk went up 9.2% yr/yr after adding 11.6% in January.

Hog was up 25.4% after being 28.3% more expensive yr/yr in January.

Poultry producer prices were up 7.1% after 9.9% up yr/yr in January, but eggs cost 39.2% more after being up 22.5% yr/yr in January as a result of stricter EU regulations on keeping hens.

Farm gate prices in 2011 were up 19.3% from 2010 on average, slowing from a yr/yr peak of 48.2% in March to 10.0% in December, as crop prices rose 21.6% on average and livestock and animal products prices rose 15.3%.

Grain prices in February last year were up 100.1% yr/yr and peaked at a 103.1% annual growth in March, to slow to 4.2% in December.

Farm gate prices fell year-on-year until June 2010 before starting to rise from a low base at a double-digit pace in July 2010.

Farmers' terms of trade improved 5.7% in 2011 as agricultural input prices rose 12.9% from the previous year, less than the 19.3% rise in farm gate prices.

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