Affordable Tokaj Wine: A Local Favorite at Foreign Prices
The Institute of Agricultural Economics (AKI) has reported a significant increase in the average selling price of Hungarian wines produced and sold domestically in the first two months of this year. According to the AKI, the average selling price rose by 16% compared to the same period last year. However, the increase in selling prices was less pronounced in export markets.
In the domestic market, wines without geographical indications saw a 6% increase in selling price, reaching HUF 30,500 (EUR 79) per hectoliter. White wines with geographical indications also saw a rise in selling price, increasing by approximately 9% to HUF 27,500 (EUR 71) per hectoliter.
The data also reflects a decline in the popularity of red wines, with red and rosé wines with protected geographical indications being sold at 12% lower prices on the international market, at HUF 25,200 (EUR 65) per hectoliter.
Among the different wine regions in Hungary, Tokaj white wines saw a 9% increase in domestic selling price, reaching approximately HUF 158,000 (EUR 410) per hectoliter. On the other hand, red and rosé wines from the Eger region saw an 8% increase in domestic selling price, reaching HUF 62,500 (EUR 162) per hectoliter.
In terms of exports, the average selling price of Tokaj white wines decreased by 2% to almost HUF 82,000 (EUR 212) per hectoliter, while the selling price of red and rosé wines from Eger increased by about 2% to HUF 68,400 (EUR 177) per hectoliter.
The volume of wine exports from January-February increased by almost 6% compared to the same period last year, reaching 169,000 hectoliters. Hungarian white wines continued to be the most sought-after on the international market, accounting for 84% of exports.
Additionally, wine imports to Hungary rose by around 14% in the first two months of 2024, with almost all of it being in bottles. The average price of imported wine also increased, with the total value of imports rising by 45% to HUF 0.9 billion (EUR 2.3 million).
Overall, the Hungarian wine industry continues to show growth and resilience in both domestic and international markets, with white wines remaining a popular choice among consumers worldwide.
