These foodstuffs will see the biggest price surge in Hungary
Hungary may see the price of meat, eggs and milk skyrocket in the near future. The parallel rise in feed and energy prices could see prices for animal products soar.
Reduction in livestock, price increases
In all livestock sectors, Hungarian farmers are expecting a reduction in livestock numbers and further increases in the price of animal products, Store Insider writes. Prices are no longer being driven up by feed prices alone, but also by rising overheads and fuel costs. What is more, even packaging material is becoming more expensive.
“Almost all other manufacturing cost items (logistics, chemicals, workwear, wastewater costs, etc.) are rising unpredictably and steadily,” says Zoltán Harcz, Executive Director of the Milk Interprofessional Organisation and Product Council. According to him, despite several reports in the international press in recent weeks about a slight fall in grain prices, no fall in feed prices is expected in Hungary. Most people expect prices to continue to rise.
Shortage of fodder
There is a shortage of all kinds of fodder in the country. Both low-energy, higher-volume feeds and higher-energy, lower-volume feeds. The latter category includes, for example, cereal grains and oilseeds. This also includes corn and sunflowers. These are the two crops whose supply has been hardest hit by the Russian-Ukrainian war that broke out in February, and the drought of 2022 has sent them crashing to the ground.
Eggs, milk and desserts will become more expensive
Livestock products are certain to become more expensive in the coming months. Rising feed and energy prices are hitting poultry farmers, who are expected to see a fall in stock numbers. Experts say that by the end of the year, eggs, currently around HUF 65-70 (EUR 0.16-0.17), could rise to around HUF 100 (EUR 0.25).
The price of milk is also showing the price rise. According to Harcz, a litre of raw milk has increased by 56 percent in the last one year, and there is no end in sight to the price increase. “In the last year and a half, we have seen record price rises both in the EU and here at home. At some point, high consumer prices may reduce the volume of dairy products sold. This reduction could affect higher quality, more expensive, premium dairy products such as desserts first,” he said.
Source: Store Insider