Lockdown lifts farmgate prices in March

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Farmgate prices in Hungary rose 10.3% year-on-year in March, climbing at the fastest rate in years as the country went into a lockdown because of the coronavirus pandemic, state news wire MTI reports citing fresh data from the Central Statistical Office (KSH).

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Prices of animals and animal products climbed 17.4% and crop prices were up 6.7%.

Live animal prices jumped 23.2% from a year earlier. Prices of animal products such as milk and eggs rose 6%.

Cereal prices were flat but prices of industrial crops jumped 24.5%. Fruit prices rocketed 45.7% while vegetable prices fell 8.3%.

In the first quarter, farm gate prices increased 6.2% from the same period of last year.

Agricultural input prices rose just 0.4%, causing terms of trade to improve by 5.8% during the period. Among input prices, prices of veterinary drugs increased the most, rising 5.8%, while fertilizer prices dropped 10.1%.

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