Kopint-Tarki sees Hungary’s farm sector contracting 10-12pc in 2009, the economic research institute said in its latest agriculture survey published Thursday.
Farmgate prices are down about 20pc this year, said senior researcher Marton Szabo. Farmers harvested about a quarter less wheat and potatoes and 3-5pc less produce, he added.
Hungary’s farm exports fell 1.3pc in volume terms in January-August. In value terms, exports were up 1.7pc in forint terms, but down 11.7pc in euro terms. Grain exports were down almost 200m and revenue from oil seeds dropped more than EUR 60m. At the same time, food imports rose.
Hungary’s food industry contracted 3.4pc in January-August from the same period a year earlier.
Food prices for consumers are set to rise about 5pc in 2009, well under the 11.5pc and the 10.2pc increases in 2008 and 2007, respectively.