The selling price of domestic wines sold abroad rose at a more modest rate than in Hungary.Continue reading
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Hungarian Wine Selling Well on the International Market
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 exporte
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
The post Hungarian Wine Selling Well on the International Market appeared first on Hungary Today.
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