This summer, Europe's agriculture faced challenges due to extreme weather conditions, leading to crop failures and an increase in food prices. Hungary experienced notable losses in corn, potato, and sunflower yields due to drought conditions. The MCC Climate Policy Institute highlighted the considerable losses in Hungary's corn and potato harvests, with both crops underperforming in quantity and quality. This situation is anticipated to affect the market significantly.
Apple yields in Hungary are also predicted to decline sharply, with projections estimating a reduction of around 150,000 tons compared to the previous year. The scarcity of edible apples is expected to not meet domestic demand, and the shortfall in industrial apple processing is notable. Consequently, the price for eating apples has risen by 25-35%, and the cost for juice apples has nearly doubled compared to last year.
Beyond Hungary, crop shortages are a concern across Europe, with Poland, Romania, and the Czech Republic expecting a 30-50% decrease in apple production. Additionally, the yields of rice, potatoes, and tomatoes have been adversely affected by a combination of drought, floods, and heatwaves, contributing to the broader issue of food inflation in the region.
Source: Trade Magazin