Food Prices May Not Be What We Expect Due to the Drought

economx.hu

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The extreme heat and lack of precipitation did not have such an impact on domestic food prices, but rather highlighted the problems of the adaptability of domestic agriculture. Water management is particularly important in Hungary due to climate change.

Pénzcentrum

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Fears of rising food prices have intensified again due to the extreme heat and drought. However, this is not the most likely scenario for now: there is still an oversupply of many products on the global food market, which is pulling prices down. International processes also affect food prices in Hungary. Therefore, in the coming months, at most, a moderate increase in prices or a decrease in food prices in some product groups can be expected.

Magyar Nemzet

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Extreme heat and drought have once again heightened fears of rising food prices, but based on current market developments, this is not the most likely scenario. Global oversupply is pushing down prices for several important products, and this is also affecting the Hungarian food market. In the short term, therefore, moderate price movements and further price decreases for some products can be expected.

Portfolio

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The extreme heat and drought have once again intensified fears about rising food prices, but according to Erste, this is not the most likely scenario for now. There is still an oversupply of several important products on the global food market, which is pulling down international prices and thereby also holding back the price level in Hungary. Therefore, in the coming months, at most, a moderate increase in prices can be expected, while some pro…

Világgazdaság

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Significant differences may therefore develop between individual product paths, but there are currently few signs of general and rapid food inflation.

Heti Világgazdaság

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Although fears about rising food prices have intensified again due to the extraordinary drought, in fact, there is still an oversupply of many products on the global food market, which is also pulling down prices in Hungary, according to an analysis by Erste.