Market News

VAT frauds of food costs 130 million HUF losses to the budget

Experts estimates that VAT frauds on food costs more than hundred million HUF losses to the budget. According to the study, the solution would be VAT reduction or the introduction...

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Bakery products will be more expensive from October

From the first day of September, the price of bakery products will rise by about 20 percent. The national chain of stores increase the price of bakery products from the...

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The Far-East company will be denounced due to dubious origin foods

The inspectors of the National Tax and Customs Office (NAV) and the National Food Chain Safety Office (NÉBIH) found several hundred kilograms of dubious origin food at a company on...

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Slovakia does not restrict the flow of spirits because of the methyl alcohol poisonings

The situation is not dramatic, so no restrictions on alcohol marketing is needed in Slovakia – Zuzana Zvolenská Slovak health minister told on Monday in connection with the methyl alcohol...

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LMP: an explosion of food prices about to come

Due to the drought of the past two years, food-prices are about to rise, and this phenomenon might even lead to an explosion of food-prices, LMP's spokeperson pointed out within...

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165 billion HUF was spent on private label foods

The revenues of food retail chains from private label products increased in the first half of this year, compared to the same period of last year. With private label food...

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FruitVeB calls for VAT reduction or reverse VAT

The Hungarian Fruit and Vegetable Interprofessional Organization and Marketing Board (FruitVeB) calls for the reduction of Value Added Tax (VAT) and if this is not possible, proposes reverse VAT –...

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The long-awaited rain does not bring too much benefits

The rain soaking half of the country did not bring too much benefits to agriculture, said Vancsura József, president of the National Association of Grain Producers. We learned that where...

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International trade may increase slower-than-expected

The Secretary-General of the World Trade Organization (WTO) expects smaller-than-expected growth this year, due to the slowdown in global economy. Pascal Lamy warned that the WTO will probably modify downward...

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The dairy sector votes on VAT reduction

To stabilize incomes is a major challenge for the dairy industry players. The law on interbranch organizations can help them – Feldman Zsolt Deputy State Secretary at the Ministry of...

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Mountain villages: grape harvest has good quality, but import will be needed from cheaper wines

This year's grape harvest has a great quality. Hungarian grapes have been so healthy as now long time ago, but from cheaper wines Hungary is expected to rely on Italian...

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The price of Arabica coffee increases dramatically

On Monday, the price of Arabica coffee increased spectacularly, by more than 6 percent to 173 cents. Such a price increase occurred last time in January 2009, in addition on...

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The tax authorities also checked the fruit vendors of the South Plains

The inspectors of the National Tax and Customs Office (NAV) checked the regularity of fruit sales in the southern Great Plains region during the summer months. In almost half of...

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The Parliament adopted the law on tobacco sales

Tobacco retail will be a state monopoly from the 1st of July next year. The state can give a green light to applicants in the scope of a concession contract....

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Corn crop will be enough

Despite the drought, the estimated 4 million tons of corn crop may be sufficient to satisfy the interior needs of the country – Czerván György told at Tuesday’s agricultural forum...

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The rating of MLSZKSZ may worth billions

In the past 6 years, the applicants who have a certificate of qualification developed by the Association of the Hungarian Logistics Service Centres (MLSZKSZ) won a total of 7.5 billion...

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Ipsos: Rather personally than via “gadgets”

Four out of five people prefer to talk face to face rather than by telephone. 81 percent of people prefer to communicate in person, than through a telephone set. In...

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The FEOSZ and the NÉBIH works together to inform the consumers

The National Association of Consumer Associations (FEOSZ) and the National Food Chain Safety Office (NÉBIH) signed a cooperation agreement on 7 September in order to better inform consumers than ever...

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The number of chip cards increases

In the first half of the year, the spread of chip cards continued in Hungary: According to the Hungarian National Bank, their rate was nearly 78 percent in June. Chip...

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Hungarian companies spend less on advertising

According to the list price datas of Kantar Media, companies in Hungary spent 4.4 percent less on advertising in the first half of this year than in the same period...

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The system of tobacco shops will be launched in July instead of January

Instead of January next year, the Constitutional Affairs Committee of the Hungarian Parliament proposes to set up the concession tobacco shop system from the 1st of July 2013. The scope...

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Investor sentiment has improved in the euro area in September

Thanks to the the sovereign bond market intervention program  of the European Central Bank, investor sentiment index improved in September for the first time since March in the euro zone...

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Twenty to thirty percent less grapes in the Szekszárd wine region

Due to the drought, twenty to thirty percent less grapes were harvested in the Szekszárd wine region, where the harvest of some late-ripening varieties has begun. The winemakers of the...

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Stagnant industry, a fall in GDP – there is no sign of a turning point

According to analysts, a positive turn is not expected in industrial production during the second half of the year, even in spite of the expected growth of the Mercedes plant....

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Magazine: Sales expanded on the market of feminine hygiene products

The market of feminine hygiene products audited by Nielsen surpasses an annual HUF 14 billion. Sanitary napkin is the biggest segment with annual sales in the value of HUF 5...

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Sunflower is on a record price

Sunflower has a record price, despite the drought. The industrial plant costs one and a half times more than in last year. According to the preliminary estimates the crop can...

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Global consumers' intent to buy food and beverages online grows 44 percent in 2 years

According to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy, global consumers’ intent to buy food and beverages online...

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Food prices increased in China

The Chinese consumer price index (CPI) increased slightly in August proper to the analysts’ expectations. On an annual comparision, consumer prices increased to 2 percent from the previous month's 1.8...

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VM: there can be reverse VAT in the pig sector

Even the Ministry of Agriculture withdrew its proposal of the reverse VAT in the pig sector in August, the government once again discussed the question. The Ministry supports the idea....

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