The opportunities of the Hungarian corn at the international agricultural markets in 2016

Abstract

Agriculture is traditionally an important sector in the Hungarian economy even though its importance is weakening today. The sector had positive export import balance during the past years, so it means that it is an export oriented field of the national economy which improves the performance of the national foreign trade balance of Hungary. On the global agricultural market we can expect volume increase of the different agricultural products, which forecasts harsh competition on the agribusiness market as well. Although it is not easy to make a long or even middle term prognosis because of the changes of climate, weather conditions, crude oil price, macroeconomics and agricultural policies but because of the size of the country we can conclude that the Hungarian agricultural market should follow the trends of the EU and the global market. The grain sector is one of the most dominant ones on the domestic agricultural market. Within the local market corn was the most dominant product during the last years. In this paper the objective of the author is to examine the present situation of the Hungarian corn on the local and on the international markets according to the available data of local and international institutions (KSH, MGTKSZ, FAPRI, USDA). Keywords: agriculture, grain market, Hungarian agriculture, corn, international market