Category Archives: English news

The price of milk has fallen in Hungary

According to the data of AKI PÁIR, the national average producer price of raw milk in Hungary was HUF 161.96 per kilogram in June 2023.

CAP: Commission launches a call for tenders concerning a framework contract for analytical services on knowledge and skills of farmers, social and societal aspects of agriculture and rural areas

The EC has launched a call for tenders concerning a framework contract for analytical services on knowledge and skills of farmers, social and societal aspects of agriculture and rural areas.

EU package to make sustainable use of key natural resources

The European Commission adopted Wednesday a package of measures for a sustainable use of key natural resources, which will also strengthen the resilience of EU food systems and farming. A soil monitoring law will put the EU on a pathway to healthy soils by 2050, by gathering data on the health of soils and making it available to farmers and other soil managers, says the EU executive. The proposal „will boost Europe’s resilience and ensure a viable future for our farmers, landowners and people,” said Environment Commissioner Virginijus Sinkevicius: „In a nutshell, it legally defines healthy soils and allow us gather data on the state of soils, make a sustainable soil management the norm and very importantly help decontaminate polluted soils.”

Extra-EU exports to Ukraine above pre-war levels

EU trade with Ukraine has been strongly affected since the start of Russia’s invasion, with an initial strong disruption recorded between February and March 2022, when the share of Ukraine with respect to extra-EU flows dropped for both imports and exports (-40% and -56%, respectively). However, in December 2022, the share of Ukraine in extra-EU exports was above the pre-war level (1.5% in December compared with 1.2% in February 2022) while imports remained slightly below (1.0% compared with 1.1%).

NBH augurs slowdown in pace of inflation after September

The National Bank of Hungary (NBH) expects CPI to continue to rise for the rest of the year, albeit at a slower pace after September, a central bank director said on Thursday.

Forint falls to new lows on interbank forex market

The forint traded at 418.23 to the euro around 10:00 in the morning on Thursday, recovering after slipping as far as 419.36 a new low.

Hungary aids rail exports of Ukrainian grain

A coordinated effort by Hungary to aid exports, by rail, of Ukrainian grain are starting to pay off, state secretary for transport David Vitezy said.

NBH keeps one-week deposit rate at 6.15pc

The National Bank of Hungary (NBH) left the rate for its one-week deposit facility unchanged at 6.15pc ahead of a tender on Thursday.

Watchdog withdraws Sberbank Magyarorszag licence, orders lender wound up

The National Bank of Hungary (NBH) on Tuesday said it withdrew the lending licence of Russian-owned Sberbank Magyarorszag because of its „serious liquidity and capital situation” amid international sanctions against Russia and ordered the credit institution to be wound up.

Hungary issues EUR 575m of samurai bonds


Finance Minister Mihaly Varga announced the issue of EUR 575m of samurai bonds in a post on Facebook early Friday. Hungary issued three-, five-, seven- and ten-year bonds, Mr Varga said, adding that green bonds accounted for „the biggest part” of the issue. „Investor confidence in the Hungarian economy is unbroken,” he said.

Orban voices support for common European defence force

Prime Minister Viktor Orban said Hungary backs the development of a common European defence force at an annual state-of-the-nation address on Saturday.

Matolcsy backs ban on crypto trading, mining in EU

National Bank of Hungary (NBH) governor Gyorgy Matolcsy took a stand for banning cryptocurrency trading and mining in the European Union in a piece posted on the central bank’s website.

Food safety: EU and US resume trade of bivalve molluscs

ms3As from the end of this month, trade of molluscan shellfish – such as mussels, clams, oysters and scallops – will resume between the EU and the US. Two EU Member States (Spain and the Netherlands) will be allowed to export molluscan shellfish to the US, whilst two American states (Massachusetts and Washington) can do the same to the EU. The Commission has adopted the legislation to that effect.

Motorpharma signs USD 100m drug development contract with Aditum Bio

mgyMotorpharma, a Hungarian startup that owns a licence to use and develop a compound that could be used to treat patients suffering from spastic limbs after stroke and other neurological injuries, has signed a drug development contract with US biotech investment firm Aditum Bio „worth about USD 100m”, Motorpharma told.

Forint slips past 370 to euro, a new low

ft_The forint traded at 370.01 to the euro on the interbank forex market around 5:30 in the evening on Monday, recovering a fraction after weakening as far as 370.28 late in the day, a new historical low.

Hungary farm sector output climbs 4.6pc in 2020

haOutput of Hungary’s agriculture sector rose 4.6pc to HUF 2,950bn, at current prices, data compiled by the Central Statistics Office (KSH) show.