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Prices expected to go up more in the short term

Hungary: Heatwave affects green pea supply

Green peas are one of Hungary's most common open-field vegetables, covering approximately 8% of the total vegetable growing area. The biggest buyers of Hungarian green peas are Russia, Germany, Italy, France and the Baltic States. In the last three weeks up until the 11th of August 2021, the Mintec price of Hungarian green peas has gone up by 29.7% to HUF 1,200/kg.

This price increase is attributed to supply shortages, following the abnormally hot weather in recent months. Green peas are cold tolerant vegetables, with a relatively short production cycle of approximately 30 days. They are not, however, prone to tolerating extreme high temperatures. This, and the lack of rain, are hampering the development of pea pods and thus, harvested crop during this season will be approximately 25% below normal levels.

The Hungarian Bureau of Statistics has stated that green pea production has been relatively stable over the last three years, amounting to around 90,000 tons per year. However the UK, being the largest producer (160,000 tons per year) and consumer of frozen green peas in Europe, also witnessed extremely high weather temperatures in July 2021. Considering the production problems of other key EU players, Hungarian green pea prices are projected to go up more in the short term.

Source: mintecglobal.com


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