Market News

Analysts: GDP growth beyond the expectations

The growth in gross domestic product (GDP) surpassed all analysts' expectations – according to macroeconomic analysts interviewed by MTI. In response to the Central Statistical Office’s (KSH) Friday published data,...

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Measures against honey forgers

The European Commission developed a control plan in order to eliminate industrially created import honey imported to the EU. In Hungary the fake honey have been basically eliminated. The NÉBIH-...

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We need to shift to innovation-driven economy

We need to shift to innovation-driven economy in the coming years. The industry should rely on knowledge, research and development, higher education and vocational education – the Minister of State...

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The stores that throw out food to be fined in France

France has become the first nation in the world that will ban supermarkets if wasting food – according to a new law this month. From now, the large grocery stores...

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The authorities will strictly monitor the unlawfully operating sales presentation companies

The authorities shall cooperate in the procedures relating to the sales presentations and strictly oppose against the offending companies. According to the joint statement of the Hungarian Competition Authority (GVH),...

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Hungary performs well in the EU export competition

According to the first approximation, the euro zone’s 19 Member States shipped 167.5 billion euros worth goods to the rest of the world in December 2015, which is a three...

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Russia may be the world's largest grain exporter

Russia's government hopes that Russia can become the world's largest grain exporter in the next agricultural year, like the former Soviet Union – Magyar Nemzet Online wrote. Russian Agriculture Minister...

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Two passengers tried to smuggle cigarettes from Dubai to Hungary

About 7700 boxes of smuggled cigarettes were seized by finance guards at the Liszt Ferenc International Airport in Budapest – the National Tax and Customs Office (NAV) told MTI on...

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More than one and a half thousand years old roly-poly was found in Northwest China

In Northwest China's Xinjiang, roly-poly was consumed already 1700 years ago. The roly-poly is the inevitable traditional food of the Chinese Lunar New Year's dinner – archaeologists claim. The conclusion...

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Lower administrative burden in the oenology and viticulture sector

From 1 April 2016 winemakers can ask the relevant authorities to issue certificates of origin in an electronic format. Other changes in the regulation of the oenology and viticulture sector...

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Winter inspections: good results

Winter inspections in the food supply chain ended with positive results in most cases. In December 2015 precisely 4,997 checks were performed by experts, 8.4 tons of products were ordered...

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EU apple and pear may be allowed to enter the USA

The United States Department of Agriculture (USDA) published a draft regulation that gives a green light to apple and pear import from the European Union. This is great news for...

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Magazine: Almost 700 square metres of Hungarian exhibition space at Grüne Woche

Between 15 and 24 January 2016 Berlin was the place where the world’s agri-food producers gathered: there were almost 1,700 exhibitors from 65 countries on 120,000m² at Grüne Woche, which...

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Big Data changes the future of HR

Big Data analysis can help to optimise the recruitment process for HR managers, for whom certain personal characteristics and competences (soft skills) have become more important by now than previous...

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Retail sales of household chemicals and cosmetics increased by six percent

The retail sales of household chemicals and cosmetics amounted to 356 billion HUF last year; 6 percent higher than a year before. The volume of sales remained unchanged. Among the...

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The families save an annual ten thousands HUF due to the VAT reduction on pork

The VAT reduction on pork is resulted in 25 million HUF savings for the customers, so a family of four will save an annual ten thousands HUF – the Parliamentary...

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KSH: the performance of the economy grew by 2.9 percent last year

Hungary's gross domestic product (GDP) grew by 2.9 percent in 2015, compared to the previous year. In the fourth quarter of 2015 the growth was 3.2 percent, compared to the...

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Young farmers are performing well in the horticultural sector

The rate of young farmers in the horticultural sector is more than 10 percent in Hungary. These farmers are taking risks above the average and are more open to new...

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Valentine's Day – flowers and chocolates are the hit products

Sales are increasing before 14 February (Valentine's Day) in the domestic stores – according to the chains. The chain of stores told MTI that the most popular products are chocolates...

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The product boards are concerned due to the transformation of irrigation rules

The FruitVeB, Fruit and Vegetable Interprofessional Organization and Marketing Board and the Apple Product Board are calling for consultation on the subject. In the document sent to MTI on Friday,...

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The ifo World Economic Sentiment Index declined in the first quarter

The Ifo Index for the world economy dropped from 89.6 points to 87.8 points this quarter, drifting further from its long-term average (96.1 points). While assessments of the current economic...

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NAV: finance guards found 1,600 liters liters of untaxed pálinka

During an excise control, the finance guards of the National Tax and Customs Office (NAV) found 1,600 liters liters of untaxed pálinka – the NAV told MTI on Saturday. According...

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Hungary is the first EU country to sell beef to China

In mid-January the first beef consignment from an EU country, Hungary, ceremonially arrived at Shanghai. The representatives of the municipality, the customs authorities, the quarantine office and the buyer company,...

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Danubiana exports more wine

Bonyhád-seated Danubiana Kft. increased its wined export by 5 percent. The company sold 138,000 hectolitres of wine in 2015, 90 percent of which was exported to the UK, Scandinavia and...

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Farmers can also apply for preferential loans

Until the end of January farmers can apply for loans with subsidised costs in the Széchenyi Card and the Hungarian Development Bank (MFB) schemes. The Agricultural and Rural Development Agency...

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Magazine: Energy drinks are flying high again

Energy drink is a functional product that fits very well into the consumer lifestyle of today’s rat race world. A growing number of people drink them instead of coffee. Sales...

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Analysts: inflation was lower than expected in January

The inflation rate in January fell short of the expectations. The main role in the data was played by the significant drop in fuel prices, the reduction of VAT on...

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GfK: financial awareness is independent of age

The development of financial culture is a vital interest for all the players in the financial sector. The financial culture encompasses the knowledge of financial products, the oversight of financial...

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Vine pruning at full swing

Vine pruning starts later in milder weather in the small gardens, but at the larger vineyard parcels work was going on during the whole winter. With the exception of harder...

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The Hungarians like to celebrate Valentine's Day at a restaurant

In Hungary, 67 percent of Valentine's day card spending are carried out in restaurants, while the fewest transactions are in flower shops and jewelry stores (2-2 percent) – according to...

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