Hungarian Soybeans Export: Serbia Emerges
Reading time: 2 minutes
A significant part of the high-quality, GMO-free Hungarian Soybean crop leaves the country. In 2021, they exported 90,000 to 100,000 tons of crop, which is more than half of the produced. The largest part of the export – 42,000 tons – was directed to Germany. In addition, 41 thousand tons found a home in Austria. According to the USDA, the country produced 162,000 tons of Soybeans in 2021/2022.
Plus, more and more of the crop is being shipped to Italy and Belgium. As per AgFlow data, Hungary exported 22,138 tons of Soybeans to Germany in 2022, followed by Serbia (20,918 tons), Belgium (1050 tons), and Austria (996 tons). At the same time, in addition to the enormous exports, Hungary is forced to import Soybeans, mainly in bean and processed form.
It is worth highlighting Soybean meal, of which around 470,000 tons arrive in Hungary yearly, typically from South America via Slovenia. Indeed, the common interest would be for Europe and Hungary to be independent of the point of view of soy and for GMO imports to stop flowing into the continent, so it would be essential to move in the direction of independence.
In 2022, Hungary sowed Soybeans on a total of 67,000 hectares, but in terms of the area sown, there is a specific geographical shift compared to recent years. Although, Baranya county is still the “home of Soybeans” with 17,000 hectares, Vas county came in second place. On a national average, it can be said that the average yield of Soybeans was around 1.9-2 tons in 2022. Many people in Hungary expect that the current 68,000 hectares of soy growing area will grow faster than ever before.
We need to reevaluate our options. Soy needs fewer nutrients and pesticides than canola or corn, so it is more economical in terms of inputs and more stable in terms of production, said Zoltán Bene, the company manager of Karintia Kft. Farmers should be prepared that the rise in input material prices is expected to continue since a significant part of them are imports, and exchange rate changes are a major influencing factor here. That’s why it’s so essential now that producers are open to input-saving crops such as soy. This plant can produce nitrogen for itself, and at such prices, if there is no need to add this nutrient, it can significantly reduce expenses, he explained.
In Hungary, according to AKI PÁIR data, the producer price of Soybeans was HUF 254.7 thousand/ton in the first week of October 2022, which exceeded the previous year by 18 percent. Full-fat (extruded) Soybeans (30-40 percent crude protein, 17-23 percent crude fat, and up to 12 percent water) were sold at the same time at HUF 245.7 thousand/ton (+36 percent) excluding VAT and shipping costs. On the Chicago Mercantile Exchange (CME/CBOT), the November quote for Soybeans was in the range of $499-$513/ton on October 3-14.
Hungarian Soybean Oils Trade
In 2020, Hungary exported Soybean oil worth $19 million, making it the 39th largest exporter of Soybean Oil in the world. The leading destination of Soybean Oil exports from Hungary is Belgium ($5.59 million), Germany ($3.94 million), Czechia ($3.63 million), Poland ($2.37 million), and Austria ($1.9 million).
In 2020, Hungary imported Soybean oil worth $6.45 million, becoming the world’s 92nd most significant importer of Soybean oil. Hungary imports Soybean Oil primarily from: Serbia ($3.79 million), Slovakia ($965k), Croatia ($502k), Austria ($388k), and Germany ($347k).
Other sources: AGRARSZEKTOR
Try AgFlow Free
Access Free On Updates for Corn, Wheat, Soybean,
Barley, and Sunflower Oil.
No Credit Card Required & Unlimited Access In Time