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Another Year Of Low Cherry Yields In Hungary

• 20 Jul 2020 10:04 AM
• Budapest Business Journal

Despite the extremely low yields, due to frost, hail and heavy rain taking away most of the cherry crop, the fruit has sold on wholesale markets for more than last year’s prices, although it did not reach record highs, according to a market summary from the Agricultural Economics Research Institute (NAIK), writes Világgazdaság.

Yields were also weak last year, causing exports of fresh Hungarian cherries to fall from 642.9 tonnes to 202.9 tonnes compared to 2018.

The main markets for cherries from Hungary were Latvia, Slovakia and Lithuania. The volume of imported cherries is insignificant, significantly lower than exports, at 90.7 tons in 2019.

According to the data of the research institute, the producer price of one kilogram of cherries on the Budapest Wholesale Market was HUF 948 in 2019, which was 28% higher than the average price of the same period in 2018, vg.hu notes.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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