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Hungary’s livestock farming sector have shown remarkable growth in the first half of 2024, outpacing many EU countries. Zsolt Feldman, Minister of State for Agriculture and Rural Development, highlighted this in a recent statement, noting significant improvements in both production and exports.
Farmers have benefited from a favorable market environment and strong government support. The country’s pork slaughtering rate was the 3rd highest in the EU between January and May 2024, while poultry slaughtering saw the 3rd largest increase, and milk purchases rose to the 4th highest in the EU.
Exports of live cattle increased by nearly 12%, and live sheep exports surged by over 25% during this period.
According to Mr. Feldman, poultry slaughtering increased by more than 14%, and pig slaughtering by over 8%. He emphasized that “the more favorable economic environment for livestock farmers is indicated by the normalization or increase in purchase prices, while financing costs and feed price levels have fallen.” These improvements are linked to targeted government support programs.
The Ministry of Agriculture’s livestock support scheme and modernization program, described as the largest since the end of the communist regime in 1989, have been crucial in leveraging these opportunities. Since 2021, the Rural Development Program has provided HUF 491B (EUR 1.2B) for livestock farm investments.
The Ministry’s efforts also include increased support for organic farming and working capital loans.
Zsolt Feldman concluded that, with additional funding available until 2027, Hungarian agriculture is poised for continued growth. “For livestock farmers and keepers, there are many new opportunities to modernize their farms or participate in animal welfare programs,” he noted, underscoring the Ministry’s commitment to long-term rural development.
Via MTI; Featured Image: Pixabay