Wheat Flour Market Overview in Hungary
Market Overview
In 2019, the Hungarian wheat flour market decreased by -
% to $, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a mild contraction. The growth pace was the most rapid in 2011 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market remained at a somewhat lower figure.
In value terms, wheat flour production reduced to $ in 2019 estimated in export prices. Over the period under review, production, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2011 with an increase of % against the previous year. As a result, production attained the peak level of $. From 2012 to 2019, production growth remained at a somewhat lower figure.
% to $, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a mild contraction. The growth pace was the most rapid in 2011 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market remained at a somewhat lower figure.In value terms, wheat flour production reduced to $
in 2019 estimated in export prices. Over the period under review, production, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2011 with an increase of % against the previous year. As a result, production attained the peak level of $. From 2012 to 2019, production growth remained at a somewhat lower figure.Consumption
In 2019, consumption of wheat or meslin flour decreased by -% to tonnes, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of % y-o-y. Over the period under review, consumption attained the maximum volume at tonnes in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
The value of the wheat flour market in Hungary dropped to $ in 2019, declining by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2011 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market failed to regain the momentum.
% to tonnes, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of % y-o-y. Over the period under review, consumption attained the maximum volume at tonnes in 2017; however, from 2018 to 2019, consumption remained at a lower figure.The value of the wheat flour market in Hungary dropped to $
in 2019, declining by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2011 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market failed to regain the momentum.Market Forecast
Driven by increasing demand for wheat flour in Hungary, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Over the period under review, the share of imports in terms of total wheat flour consumption in Hungary was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Hungary wheat flour market is largely supplied by domestic manufacturers.
% figure. In value terms the share of imports also stood at a low figure, which means that the Hungary wheat flour market is largely supplied by domestic manufacturers.Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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