Market News
FM: reduced VAT on fish and game meat
The Ministry of Agriculture initiates the VAT reduction of fish and venison to 5 percent – agrarszektor.hu wrote. The aim would be to reach more customers with these products. The...
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Avian influenza: the government has to take measures to avoid market loss
The government is investigating the possibility of further measures, because in addition to the current measures the market participants, such as poultry processors need more help. Lázár János Minister leading...
Read moreCIB Fund Management: Hungarian economic growth this year will be above 3 percent year on year
According to the CIB Fund Management, the Hungarian economic growth will be above 3 percent this year, while inflation will be between 2-3 percent. Hajdu Egon, investment director at the...
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KSH: trade surplus was almost 10 billion euros in 2016
The foreign trade turnover surplus was 9.978 billion euros (3107 billion HUF) last year after the 8.595 billion euros of 2015 – the Central Statistical Office (KSH) announced its first...
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MNB: 38 thousand enterprises received favorable financing in the growth loan program
In the three stages of the growth loan program, since June 2013, 38 086 enterprises received favorable financing in a value of 2652 billion HUF – was published on the...
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Promising Russian-Hungarian regional economic cooperation
The Russian-Hungarian regional economic cooperation is a promising opportunity for Hungary – the Minister of Agriculture told MTI by phone after his visit to Smolensk county. Fazekas Sándor reminded that...
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NÉBIH: Do not consume too much chia seed!
Although the chia seed is a hit product, the sales of the products need to meet strict conditions. For example it can not be sold in bulk or mixed into...
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Half a million Dutch cows to be slaughtered
Up to half a million dairy cattle can be killed this year by the Dutch livestock farmers because placing an excessive amount of manure threatens the natural waters – agrarszektor.hu...
Read moreChanges in subsidies tied to production
The conditions of subsidies tied to production and greening are going to change next year, so that farmers will be able to comply with the rules more easily. For instance...
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European retail chains getting stronger
In Q3 2016 the sales revenue of European retail chains increased – according to a report by Moody’s Investors Service. Moody’s vice president Vincent Gusdorf told: the good performance is...
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The goal is to improve the situation of farmers
In order to improve the situation of farmers, Brussels should reform the policy framework of the supply chain, fight unfair trading practices and facilitate accessing financial resources – stressed the...
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Mohács abattoir nears completion
The test run of the new, HUF 20-billion Mohács abattoir – built by Market Építő Zrt. for MCS Vágóhíd – started in November. Production will commence in the first quarter...
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Procurement community was formed in the Tokaj wine region
The Council of the Tokaj Wine Region has launched the Tokaj Wine Region Procurement Community. The non-profit Ltd. owned by the council operates the procurement system that is available for...
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Strategic agreement between the Russian Ruszprodszojuz and the National Chamber of Agricultural Economics
The Russian food industry manufacturers and Distributors Association (Ruszprodszojuz) and the National Association of Agricultural Economics (NAK) signed a cooperation agreement which aims to develop and strenghten trade and investment...
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Cheap pre-financing can compensate the delay in payment tender
In a few weeks the European Union’s tenders will start. The remaining tenders of the 2014 to 2020 budget period should be published by the end of March. The Prime...
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Significant export opportunities for the Hungarian companies in Iran
Hungarian businesses can develop significant, all segment-wide business cooperations in Iran. The Hungarian National Trading House organized a Hungarian-Iranian Business Forum on 7 February 2017 in Budapest. The participanting domestic...
Read moreStudents reproduced a 5000 year old beer
The beer recipe was discovered by Stanford archaeologist Li Liu and a team of researchers on the inside portion of a piece of pottery found in a Chinese cave. The...
Read moreForty thousand packs of untaxed cigarettes were found in a van
Forty thousand packs of untaxed cigarettes were found in a van by the finance guards of the National Tax and Customs Office (NAV). The driver fled leaving the vehicle. According...
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Simpler taxation, longer procedures
The World Bank Group and PwC’s Paying Taxes 2017 report – which studies how simple tax payment is 190 countries of the world – reveals that from year to year,...
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EU-level voucher system
As of 1 January 2019 stricter and much more complicated rules will regulate the voucher system, because the European Union has adopted a directive aimed at harmonising and clarifying the...
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Increasing minimum wages
The government, employers and trade unions have reached an agreement on next year’s wages. In November Minister for National Economy Mihály Varga announced: next year minimum wages will grow by...
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Magazine: Hungary’s commercial real estate market keeps growing
After the decline caused by the economic recession of 2008, the Hungarian commercial real estate market was going through a recovery process in the last few years. Zoltán Szalóky, head...
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ÉFOSZ: the health status of the Hungarian population was not affected by the introduction of the public health product tax
According to the Food Industries National Association (ÉFOSZ), altough the consumption of products affected by the public health product tax (NETA) declined in recent years, the introduction of the tax...
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Inspectors mainly found labeling errors in case of frozen chips
The National Food Chain Safety Office (NÉBIH), found labeling errors in case of all the sixteen tested frozen french fries products. According to the communication of the National Food Chain...
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NGM Minister of State: earnings will also rise in the higher wage brackets
Earnings will also rise in the higher wage brackets due to the introduced tax cuts – Cseresnyés Péter, Minister of State for National Economy Ministry (NGM) told M1 news channel...
Read moreLast year, retail sales increased by 5.6 percent in the Czech Republic
Retail sales increased by 5.6 percent in the Czech Republic in 2016 on an annual basis – the Czech Statistical Office (CSU) announced on Monday in Prague. Statisticians said that...
Read moreFazekas: the establishment of joint-ventures may be an important part in the Russian-Hungarian agricultural cooperation in the future
The establishment of joint-ventures may be an important part in the Russian-Hungarian agricultural cooperation in the future – the Ministers of Agriculture of the two countries stated during talks in...
Read moreThe share of domestic foods continued to decline in the stores in Slovakia
The share of domestic foods continued to decline slightly last year in Slovakia – was revealed in the survey of the Slovak Agriculture and Food Chamber (SPPK). According to a...
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Export conference for Hungarian enterprises in neighbouring countries
In November the Hungarian National Trading House (MNKH) organised its first export-themed conference for Hungarian businesses located in neighbouring countries. The event took place in Csíkszereda (Miercurea Ciuc) in Romania...
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What will Donald Trump bring for the financial markets?
On 8 November 2016 Donald Trump won the presidential elections in the USA. At the moment it is rather uncertain what is going to happen in the financial markets. It...
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