Hungarian agricultural reforms drive 6.4% growth in farm exports, minister highlights key markets and increased funding
The Hungarian government’s agricultural and food industry reforms boosted farm export growth by 6.4 percent in the first half of the year, the agriculture minister said on Sunday.
Farm exports came to 8.17 billion euros in the first seven months of the year thanks to the development funds earmarked for the sector, up 494 million euros from the same period in the previous year, István Nagy said on Facebook, adding that food industry exports rose by 7 percent.
Hungary’s top five export markets in the first half were Germany, Italy, Romania, Austria and Poland, accounting for over 54 percent of farm exports, the minister said. He said the share of processed products among farm exports rose to 74.2 percent from 62 percent in the period, while the share of raw produce fell to 25.8 percent.
Hungary considers agriculture a strategic sector, and is the only European Union country to have raised its national co-financing threshold to the maximum 80 percent for farming subsidies, Nagy said, adding that this has tripled the funding available for rural development.
Over the last three years, Hungary has spent 400 billion forints (EUR 979.1m) on the development of livestock farms, more than 100 billion on the upgrade of horticultural facilities, close to 230 billion on the expansion of food industry capacities and 180 billion forints on advancing precision farming, Nagy said. The government has also disbursed more than 55 billion forints among small farmers, he added.
Read also:
please make a donation here
Hot news
Top Hungary news: Festive trains, Wizz passengers stuck in Belgium, minimum wage increase, lego tram — 21 November, 2024
Hungary stands firm on Russian energy: FM Szijjártó defends sovereignty amid EU criticism
Wizz Air flight delayed for 18 hours: Passengers stuck in Brussels airport
Official: Minimum wage in Hungary to rise in 2025
Hop on a festive train to Vienna and Zagreb’s Christmas markets with MÁV!
Hungary launches EUR 500,000 humanitarian aid for persecuted Christians through Hungary Helps programme
1 Comment
The Real Person!
The Real Person!
Excellent news. Agriculture is the most important of the sectors. Without food security, little else matters (economy-wise).