financetom
Business
financetom
/
Business
/
Hungary will not reintroduce import ban on Ukrainian honey despite protests
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hungary will not reintroduce import ban on Ukrainian honey despite protests
Mar 26, 2024 3:39 AM

BUDAPEST (Reuters) - Hungary will not reintroduce a ban on honey imported from Ukraine despite demands by honey farmers who have protested saying cheap honey from Ukraine pushed down prices and threatens to drive them out of business.

Prime Minister Viktor Orban's government imposed a ban on imports of 24 agricultural products from Ukraine last year including grains, pork, and also honey. On Feb. 19 it abolished the import ban on honey, triggering protests from the country's around 22,000 beekeepers.

Agriculture Minister Istvan Nagy told Reuters the unilateral import ban failed to have a positive impact on the local market as wholesale purchase prices have not increased to the extent that local farmers hoped for, while it hurt companies who packaged and exported honey to the EU.

He said honey exporters needed the Ukrainian honey as they would not be able to meet contracted deliveries otherwise.

"As the closure (ban) could no longer support the interests of Hungarian beekeepers, it had no palpable impact, we did not want to create even bigger problems ... that's why we had to reopen our market," Nagy said.

When asked if the government would consider reintroducing the import ban, he said "no, as it has no impact."

Most honey imports into the EU come from China and Ukraine. Ukrainian imports accounted for 25% of the EU's honey imports in January-August 2023, according to European Commission data.

Krisztian Kisjuhasz, a beekeeper in the village of Ladanybene, has 110 beehives and says current wholesale purchase prices do not even cover his costs. Kisjuhasz took part in farmers' protests near the Ukrainian border in early February.

"What we want is ... to prevent Ukrainian honey entering the European or at least Hungarian market at cheap prices, in order to protect our market as prices have been stuck (low) for 2 years," he said.

"Unfortunately, the future will be that beekeepers who have earned their livelihood from this, will be forced ... to take up other jobs and continue honey farming as a hobby as we won't be able to sell our honey in large quantities," Kisjuhasz said.

He said the biggest problem besides the Ukrainian imports was cheap Chinese honey flooding the EU's markets.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Veritone Launches AI-based Chatbot
Veritone Launches AI-based Chatbot
Mar 26, 2024
01:59 PM EDT, 03/26/2024 (MT Newswires) -- Veritone ( VERI ) on Tuesday launched Ask Veri, a generative-AI and natural language tool on its Digital Media Hub for media intelligence and workflow execution. Ask Veri, a part of Veritone's ( VERI ) aiWARE platform, is expected to be available across the majority of Veritone's ( VERI ) commercial and public...
Update: i3 Energy Proposes Reduction of Share Capital; Down 2% in LSE Trading
Update: i3 Energy Proposes Reduction of Share Capital; Down 2% in LSE Trading
Mar 26, 2024
02:00 PM EDT, 03/26/2024 (MT Newswires) -- i3 Energy plc ( ITEEF ) , an independent oil and gas company with assets and operations in the UK and Canada, earlier Tuesday said that it plans to reduce share capital to ensure there are sufficient distributable reserves to facilitate dividend payments in the long term. The capital reduction process is not...
Comcast's Peacock and Amazon Prime Video to stream exclusive NFL games
Comcast's Peacock and Amazon Prime Video to stream exclusive NFL games
Mar 26, 2024
March 26 (Reuters) - Comcast's ( CMCSA ) streaming service Peacock will exclusively feature the National Football League's Week 1 game, the NFL said on Tuesday, as part of its updated media distribution agreements for the 2024 season. Rival Amazon.com's ( AMZN ) Prime Video will exclusively stream the NFL Wild Card game this season, marking the second time an...
Activist Elliott has accepted Phillips 66's performance goals -CEO
Activist Elliott has accepted Phillips 66's performance goals -CEO
Mar 26, 2024
HOUSTON, March 26 (Reuters) - Activist investor Elliott Investment Management has accepted the performance improvement plan that U.S. oil refiner Phillips 66 laid out to boost shareholder returns and share price, Chief Executive Mark Lashier said in an interview on Tuesday. They've bought into our plans that we already had in place, the CEO of one of the largest U.S....
Copyright 2023-2026 - www.financetom.com All Rights Reserved