The selling price of domestic wines sold abroad rose at a more modest rate than in Hungary.Continue reading
In the first seven months of this year, Hungary imported almost a third more wine than a year earlier. However, almost 20 times more domestic wine was sold abroad than imported wine, Világgazdaság reports.
The selling price of Hungarian wines exported without a geographical indication and with a protected geographical indication rose by almost 5% to around HUF 30,000 (1 EUR = 393.8 HUF) per hectoliter in the first seven months of 2024 compared to a year earlier. However, only below-average increases in the selling price of high quality wines could be accepted by buyers, and the price of red wines, that have suffered from a fall in consumption, was even lower than a year before.
Compared to the average price in the first seven months of the previous year, the export price of the famous Tokaj white wines fell by around 1% to HUF 83,000 per hectoliter. The selling price of red and rosé wines from Eger, also having a protected geographical indication, rose by 5%.
According to the Hungarian Central Statistical Office (KSH),
Hungary’s wine external trade balance excluding semi-sparkling wine and sparkling wine was positive in the first half of 2024, up 26% in volume and almost 20% in value compared to the first half of 2023.
The volume of exported wine rose by around 27% to 648.4 thousand hectoliters, while the increase in value was more modest at almost 21%. This brought wine sales revenue from external markets to HUF 23.6 billion.
Hungarian white wines continued to be the most sought-after on the international market, accounting for 81% of exports in the period.
Hungarian wine imports rose to 32.5 thousand hectoliters in the first six months of this year, up 31% year-on-year. For winemakers, the fact that Hungarian consumers overwhelmingly stick to domestic wines is a good position.
Via Világgazdaság, Featured image: Pexels
