Walnut prices rise in Hungary due to low yields

Walnut kernel prices in Hungary have increased by 20 percent compared to the same period last year, according to the Agricultural Economic Institute (AKI). In the second week of October, wholesale prices at the Budapest Wholesale Market reached 4,500 HUF per kilogram, with retail prices expected to be even higher.

The price surge is driven by significant production declines caused by drought, extreme heat, and pests. Hungarian walnut production fell by 15 percent in 2024 to 4,680 tons, and experts predict yields may drop below 4,500 tons in 2025 due to spring frosts and summer droughts. This trend is mirrored in Europe, where the USDA forecasts EU walnut production could decrease to 137,100 tons in the 2026/2027 economic year.

As the Christmas season approaches, walnut is expected to be the most expensive primary ingredient for traditional holiday pastries like bejgli, compared to poppy seeds and flour, which are expected to remain more stable.