Hungarian agricultural land productivity increased by 161 percent between 2010 and 2021, the Minister of Agriculture, István Nagy, said in a post on social media on Wednesday.
The minister noted the “strategic role” of domestic agriculture not only in providing safe and continuous food supplies during the coronavirus pandemic but also in underpinning economic output.
Hungary’s agricultural performance has narrowed the gap with the European Union, with its land productivity reaching 66 percent of the EU average in 2021 as against 41 percent in 2010, he added.
In 2021, agricultural output was worth more than 3,300 billion forints (EUR 9.2bn), yet another record, and a 24 percent increase over its value in 2018.
The 24 percent increase in the value of investments since 2018 also underscores “the bright future and competitiveness of the country’s agriculture and food industry in the long run, with cutting-edge technologies and innovative solutions leading the way,” the minister said, noting that farmers spent 376 billion on developments in the first three quarters of 2021.
Also, income from agriculture increased by 123 percent between 2010 and 2021, he said, while the value of agricultural exports has gone up by 22 percent since 2018.
The Hungarian countryside and farming has undergone renewal thanks to government EU co-financing, which will be the highest rate between 2021 to 2027 under CAP II rural development programme, with 4,265 billion forints available to Hungary’s agriculture and food industry for developments in the next few years.