Wheat shortage in Europe driving up maize prices, encouraging exports
Hungary’s Poultry Products Council is calling for state intervention purchases of 500,000 metric tons of maize to prevent fears of domestic shortages stemming from increased feed exports.
A wheat shortage in Europe is driving up maize prices, which have reached HUF 58,000 to HUF 60,000 per metric ton, triggering an increase in maize exports. The rise in feed prices may also push up farm gate poultry prices by 20 to 25pc beginning in March, according to council head Laszlo Barany.
In response, Hungary’s Rural Development Ministry said the country’s maize harvest is more than 3 metric tons over domestic demand, and the supply of grain-based feed in the rest of Europe is currently at sufficient levels.