Market News
Vodka Museum opens in Warsaw
The Polish Vodka Museum opens next week in Warsaw, in a refurbished building of a 19th century factory, showing the more than six hundred years of Polish vodka history and...
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Magazine: Big growth in the non-food sales of National Tobacco Shops
Non-food categories realised 13 percent of total sales by National Tobacco Shops in 2017. The profit margin of these categories is 25-30 percent, while the profit margin of tobacco products is...
Read moreNielsen: domestic retail trade preserved its momentum
The value of retail trade in Hungary increased by 8.3 percent in the first quarter of 2018, compared to the same period of the previous year – accoring to Nielsen....
Read moreAnalysts: household consumption will persistently remain the driving force of economic growth
Household consumption remains the driving force behind economic growth, coupled with the added value of services on the production side. Market analysts commenting on the CSO report on Tuesday’s GDP...
Read moreMinistry of Agriculture: the reduction of CAP funds is unacceptable
According to Hungary, the EU budget proposed for the financing of the Common Agricultural Policy (CAP) is not enough, especially since the legislative proposals on 1 June would place significantly...
Read moreThe HNT assesses the wine stocks
The National Council of Mountain Villages (HNT) has published a standard contract template which records the rights and obligations of both producers and purchasers and provides a framework for various...
Read moreMost companies consider the digital switchover to have strategic importance
Although in Hungary, 72 percent of the companies consider digital transformations very important and only 2 percent called it less important, companies are lagging behind in digital transformation – Uzsák...
Read moreThe investment attractiveness of large companies is awakening
54 percent of the domestic large companies, are planning some kind of developments over the next year. In West Hungary the situation is even more promising, as six out of...
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The players in the herbal sector have joined their forces
The Herbal Division of the National Chamber of Agriculture (NAK) was reorganized, which also joined its forces with the Herbal Association and Marketing Board (GYSZT). The aim is to reverse...
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Imports rose more than exports
In the first quarter, the value of exports in euros was 3.4, the value of imports in euros was 3.9 percent higher than in the same period of last year,...
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Magazine: Retail trade is going upwards, but there are small obstacles
György Vámos, general secretary of the National Trade Association (OKSZ) told our magazine that retail sales expanded by 5 percent in 2017 – there has been a sales growth every...
Read moreServices, consumption and investment have led the economy
The volume of gross domestic product (GDP) was 4.4 percent higher than the one-year-earlier figure in the first quarter. The 4.9 percent growth of services, the 5.0 percent growth of...
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Nébih was ranked first in the ranking of European authorities
The National Food Chain Safety Office (Nébih) was ranked first in the ranking of European authorities; according to a recent survey by the European Food Safety Authority (EFSA), the Hungarians...
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Here are the agricultural challenges of the next ten years
The major agricultural challenges of the 10 years are; whether domestic farmers are prepared for the surplus production due to rising meat consumption and how open are they to alternative...
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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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