Market News
Food imports have grown
The value of exports calculated in euros increased by 3.7 percent, while imports decreased by 1.1 percent, compared to March last year. Foreign trade surplus decreased by 255 million euros...
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Retail trade in the euro area grew lower than expected
Retail trade in the euro area increased at a weaker pace than expected in April, compared to the previous month. The European Union’s Statistical Office (Eurostat) announced on Tuesday that...
Read moreThe British government plans to replace migrant workers with prisoners
The British government suggested that because of the labor shortage due to Brexit, the migrant workers would be replaced with prisoners in agriculture. However, the producers reject the idea, as...
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12 billion HUF worth gene retention program to be launched
A major genetic conservation development program will start from a 12.3 billion HUF support over the next five years to preserve the agricultural heritage that is important for national identity...
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Magazine: Brands are the engine of growth
Dr Ágnes Fábián, president of Branded Goods Association Hungary (BGA) and managing director of Henkel Magyarország Kft. talked to our magazine about 2017 from brand owners’ perspective: ‘2017 continued the growth...
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Hungarians consume half as much cheese than the Danish or French
Today is the World Day of the Cheese. In many places, mainly in Europe, cheese is one of the main character of the dining culture. In France for example it...
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The Hungarian State Treasury and the Milk Product Council signed a cooperation agreement
Mészáros József, Chairman of the Hungarian State Treasury (MÁK) and Mélykuti Tibor, Chairman of the Milk Interprofessional Organization and Product Council, signed a cooperation agreement for the development of the...
Read moreMazars consumption-type taxes have an increasing role in the region
Governments in the region are increasingly relying on consumption-type taxes. There is a large dispersion in corporate tax rates, and the way in which the tax base / tax is...
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Another ÖRT resolution – now about banking advertisements
ÖRT regularly provides guidance to help the work of its members to comply better with the legislations. The MNB has made valuable contributions to the preparation of the material. Knowing...
Read moreThe European Commission has proposed to protect pollinator insects
The European Commission has put forward a proposal to halt and reduce the decline in the occurrence and diversity of wild pollinator insects. According to the EU Commission’s report on...
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Magazine: Wearing mismatched shoes
2017 was an odd year for the Federation of Hungarian Food Industries (ÉFOSZ) – Tamás Éder, the president of the federation told our magazine. He explained that it is very difficult...
Read moreThe consumer spending of households grew by 5.1 percent in real terms last year
The average monthly consumption per capita of the Hungarian population was 82,900 HUF in 2017. It is 7.6 higher at an average price and by 5.1 percent higher in real...
Read moreThe EC would reduce the agricultural subsidies granted to Hungary by 5 percent between 2021-2027
For the EU, the European Commission (EC) foresees agricultural subsidies of 5,775 billion euros (3700 billion forints) in the proposal for the EU budget for the period 2021-2027, which was...
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A campaign was launched to promote Hungarian cheeses
A campaign to promote handmade cheeses made in Hungary has started under The Hungarian Cheese is Good title. At the press conference of the initiative on Friday in Budapest the...
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World Milk Day: Olympians promoted milk consumption
For more than a decade, the World Milk Day is celebrated in nearly 160 countries around the globe on 1 June. In Hungary, the Milk Interprofessional Organization and Product Council...
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Magazine: Trends of 2017 and expectations for 2018 in the Hungarian FMCG market (Part 2)
GfK Hungária Market Research Institute held its annual FMCG year evaluating conference in March – this is the second part of our report. Krisztina Bakonyi-Kovács, senior product consultant of GfK told...
Read moreOECD improved the Hungarian growth projection
The Organization for Economic Co-operation and Development (OECD) has improved its forecast for growth of the Hungarian economy in its most recent Wednesday publication called “Perspectives of the economy”. The...
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Brand Loyalty: the common thing in the generation of grandparents and grandchildren
The brand loyalty is not age-dependent: from this point of view, grandparents and grandchildren are similar to each other, ie the older and younger parents – the X and Y...
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The tax speedcam has flashed
Based on the recent report of the tax authority, it is assumed that the recently introduced tax speedcam has become a success – blokkk.com wrote. Of course, not everyone is...
Read moreThe Agrarian Chamber tests the drought monitoring system
The complex water scarcity forecasting system established by the National Water Directorate General (OVF) is a major step forward in the fight against drought. The National Chamber of Agriculture (NAK)...
Read moreGerman retail sales grew again
Retail sales in Germany increased in April, after a four-month decline, according to a statement published by the Federal Statistical Office, Destatis, on Wednesday. The monthly rate of increase is...
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Magazine: A retail overview of 2017
Hungarian retail trends are influenced by both global and local processes: consumer needs and the opportunities created by technological development interact to define the direction of changes. In 2017 the Hungarian...
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The latest commercial vehicles are nearly as comfortable as passenger cars
According to Csaba Ambrózi, Duna Autó Zrt.’s B2B sales manager, a remote-control central lock system, power windows and air conditioning are already standard features of commercial vehicles. As regards safety, models...
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KSH: double-digit growth continued in earnings
In February, gross average earnings increased by 11.9 percent compared to a year before and reached 306 500 forints. In the first two months of the year, gross and net...
Read moreCetelem: the young people save and insist on the shops
According to the Cetelem’s Panarama survey, Europe’s population is optimistic. Especially the 18 to 35-year-olds, who are even better in saving, than people over 35, while stores are still important...
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K&H and the Milk Product Board signed a cooperation agreement
The K&H Bank and Milk Interprofessional Organization and Product Council renewed its cooperation agreement. Under the new three-year contract, K&H as a prominent advocate member, inter alia, have the right...
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Nielsen: Hungarians visit festivals and sport events twice a year
Typical Hungarian music or art festival goers typically visit one or two festivals annually, are women, have higher education degree and average earnings. Official sports events attract more than two-thirds...
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Magazine: February brought a 4.9-percent production price increase in agriculture
According to data from the Central Statistical Office (KSH), in February 2018 agricultural production prices were 4.9 percent higher than in the same period of 2017. This rise was the...
Read moreSwine fever: negotiations to mitigate sanctions
Bognár Lajos, the national chief veterinarian took part in negotiations again in order to alleviate international trade sanctions due to the appearance of African swine fever (ASF) in Hungary –...
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The area of orchard plantations can grow
On the basis of the preliminary data on fruit plantation censuses, the area of orchard plantations can grow by around 17,000 hectares from the current 73,000 hectares over the next...
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