April 3, 2009
Hungary meat output to fall on low demand and rising price
Falling external and internal demand and the rising price of live hogs could cause output of Hungary's meat industry to fall 5 percent to 10 percent in 2009, according to Tamas Eder, who heads industry association MHSZ, on Wednesday (Apr 1).
Eder said live hog prices are expected to rise a further 10 percent to 15 percent in 2009 because of a sharp fall in livestock numbers.
Hungary stock for hogs fell 13 percent to 3.4 million in 2008. At the same time, demand for Hungarian hogs rose in Romania.
He also said meat industry companies are struggling because of financing problems caused by the global crisis.
Last year, the country's meat industry contracted 10 percent to HUF500 billion (US$2.28 billion). Live hog prices rose 20 percent, but retail pork prices increased just 15 percent and the price of processed products rose just 5 percent to 8 percent.
US$1 = HUF218.97 (Apr 3)
