Soybeans market in Hungary

Earlier Report Observations

The Hungarian soybean market size contracted from 256.5 thousand tons in 2018 to a low of 172.6 thousand tons in 2022, before recovering to 198.6 thousand tons in 2023. The initial downward pressure coincided with the U.S.-China trade war in 2018, which disrupted global soybean trade flows and likely affected export opportunities and prices. Domestic production fell from 181.2 thousand tons to 134.5 thousand tons over the same period, while exports rose substantially, indicating a shift in trade patterns amidst a shrinking local market.

From 2024, the market saw significant developments aimed at boosting domestic supply. Soybean planted area in Hungary expanded by almost 90% to over 112 thousand hectares, a near-record level, signaling a major push for greater self-sufficiency. This was supported by increased activity from large processors like the UBM Group, which planned higher procurement, and growing domestic processing capacity. In 2025, the European Commission authorized the marketing of genetically modified soybeans with labeling requirements, a regulatory change that could alter future supply conditions. Ongoing global factors, including renewed U.S.-China trade tensions and EU support for protein crops, continued to shape the market environment.

Production soybeans in Hungary

In kind, 2018-2021, K t

Top producers of soybeans, 2018-2021

World map of production of soybeans, 2018-2021

Hungary's soybean production has declined for the third year in a row. In 2021, the country produced 156.6 K t of soybeans, representing a gradual decrease of 5.5% compared to 2020. Over the period from 2018 to 2021, production fell by 13.6%, with an average annual decline rate of 4.8%.

Annual dynamics of production in Hungary in kind, 2018-2021, K t

Exports soybeans from Hungary

Exports in kind, K t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2018 and peaked in 2020, with a 2.4-fold difference between these years. In 2021, Hungary's soybean exports amounted to 82.7 K t, down by 14.2% from the previous year. The highest export volume was recorded in 2020 at 96.4 K t, while the largest percentage increase occurred in 2019 at 94.2%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, K t

From 2018 to 2021, Austria and Germany accounted for 84.0% of Hungary's total soybean exports in volume, with the remaining share distributed among other destinations, each contributing smaller amounts.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, K $ US

Hungary's soybean exports in value terms have increased for the third consecutive year. In 2021, exports reached 49 397 K $ US, marking a strong rise of 22.9% compared to the previous year. Between 2018 and 2021, export value grew by 164.7%, equivalent to an annualized growth rate of 38.3%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

Throughout 2018–2021, Austria and Germany were the primary buyers of Hungarian soybeans in value terms, together representing 82.4% of total exports, while other countries made up the remainder.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports soybeans to Hungary

Imports in kind, K t

After a two-year upward trend, Hungary's soybean imports declined. In 2021, imports totaled 116.2 K t, down by 16.9% from the year before. The highest import volume was recorded in 2020 at 139.7 K t, with the largest percentage increase also occurring in 2020 at 14.6%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, K t

During 2018–2021, Ukraine (25.9% of imports in volume), Serbia (17.8%), and Slovakia (15.6%) continued to be the main suppliers of soybeans to Hungary, jointly accounting for 59.3% of total imports in kind.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, K $ US

Hungary's soybean imports in value terms have risen for the second year in a row. In 2021, import value totaled 69 245 K $ US, showing a robust increase of 20.3% over the past year. Over the period from 2018 to 2021, imports grew by 42.3%, with an average annual growth rate of 12.5%. The lowest value was recorded in 2019 at 45 515 K $ US, which also saw the largest decline of 6.5%. The largest increase occurred in 2020 at 26.5%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

From 2018 to 2021, Ukraine (25.4% of imports in value), Serbia (16.6%), and Slovakia (15.7%) consistently remained the main sources for Hungary's soybean imports in value terms, together making up 57.7% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021