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In the first two months of this year, the average selling price of wines produced and sold domestically rose by 16% compared to January-April last year, the Institute of Agricultural Economics (AKI) revealed. However, this was only achieved to a much lesser extent in export markets, writes Világgazdaság.
The selling price of wines produced domestically and sold abroad without a protected geographical indication and wines with a protected geographical indication rose at a more modest rate than in Hungary, up 6% year-on-year to HUF 30,500 (EUR 79) per hectoliter in the first four months of 2024. The selling price of white wines with a protected geographical indication increased by around 9% to HUF 27,500 (EUR 71) per hectoliter.
The decline in the popularity of red wines is clearly reflected in the data:
red and rosé wines with protected geographical indications (PGIs) were sold at 12% lower prices on the international market during the period under review, at HUF 25,200 (EUR 65) per hectoliter.
Photo via Facebook/Szegedi Borfesztivál-Szeged Napja Ünnepségsorozat
Of the wines with PGIs produced and sold domestically, the average domestic selling price of Tokaj white wines increased by 9% to approximately HUF 158,000 (EUR 410) per hectoliter between January and April 2024, compared to the first four months of 2023.
There was no price decrease for wines from the Eger wine region in northern Hungary, with the average domestic sales price of red and rosé wines with PGIs rising by almost 8% to HUF 62,500 (EUR 162) per hectoliter in the period under review.
The situation is different in terms of export prices:
the average selling price of Tokaj white wines with a protected geographical indication produced domestically and sold abroad decreased by 2% to almost HUF 82,000 (EUR 212) per hectoliter between January and April 2024, compared to the same period of the previous year.
The selling price of red and rosé wines from Eger with PGIs increased by about 2% to HUF 68,400 (EUR 177) per hectoliter.
Tokaj wine region in northern Hungary. Photo via Facebook/Tokaj Borvidék Fejlesztési Tanács
The volume of wine exports from January-February increased to 169,000 hectoliters, almost 6% more than in the same period last year, while the value of wine exports rose by almost 2% to around HUF 6 billion (EUR 15.6 million), says Central Statistical Office (KSH) data. Bottled wine deliveries rose by 10% to 44,100 hectoliters, while the value of bottled wine fell by 6% to HUF 2.9 billion (EUR 7.5 million).
Hungarian white wines continued to be the most sought-after on the international market, accounting for 84% of exports over the period.
Also according to KSH, Hungary’s wine imports rose to 10,000 hectoliters between January and February 2024, up by around 14% year-on-year, and almost all of it was in bottles. The average price of imported wine increased, as the total value of imports rose by 45% to HUF 0.9 billion (2.3 million).
Via Világgazdaság; Featured image via Facebook/Magyar Bor
