Market News
The price of this year's vintage wines may increase by 10-15 percent
More and better-quality grapes grown this year, but due to rising costs and improving quality, the purchase price of grapes also increases. That is why this year's vintage wines may...
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Eco-labeled products to be promoted
The Ministry of Agriculture (FM), the CO-OP Hungary Zrt., and the Environmentally Friendly Products Nonprofit Kft. (Környezetbarát Termékek Nonprofit Kft.) signed a tripartite partnership agreement on Thursday in Budapest. Tóth...
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Economic sentiment in the euro zone improved further in October
In October, the economic sentiment improved in the euro zone, although the European Central Bank has repeatedly warned that China’s and other emerging countries' economic slowdown may halt the recovery...
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The Hungarian National Trading House opened its first representation in Serbia
The key objective of the Hungarian Government is to increase its economic presence in the neighboring countries – including Serbia as well – not only in trade but also in...
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Tax forgers were detained
Tax forgers were detained by the financial investigators of the National Tax and Customs Administration (NAV) in Budapest and Tatabánya. The suspects (managing directors of companies in Budapest and Tatabánya)...
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Two-digit growth in average price
Retail sales of baking additives were worth almost HUF 4 billion in the December 2014-July 2015 period. Like-for-like value sales were up 7 percent and volume sales improved by 1...
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Delicious baking ingredients
Baking and cooking in the Christmas period involves using tasty ingredients such as poppy seed, various types of nuts and dried fruits. The category’s leading company, Gilan Trading Kft. offers...
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Shopping experience for retail buyers
Retail chain Target (USA) developed an online platform for retail buyers, called RangeMe. The new solution makes it possible for suppliers to upload product photos, parameters, related information, videos and...
Read moreThe previous level of the food chain supervision fee to be restored
In accordance with last week's news, the government really gave ground in connection with the food chain supervision fee. According to the bill, the previous flat rate of 0.1 percent...
Read moreThe ministry would introduce the indication on GMO-free products
On a voluntary basis, there would be an indication on food packagings, labels and in advertisings that the product derives from GMO-free production – the Minister of Agriculture’s draft regulation...
Read moreMandatory staff increase in retail trade
According to a draft law, the department stores over a floor area of 400 square meters should double the their manpower – the Magyar Idők wrote on Wednesday. According to...
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This year’s season product campaign starts with the promotion of apples
This year’s season product campaign starts with the promotion of apples, followed by poultry products, wine and fish in the consumption incentive campaign of the agricultural marketing directorate of the...
Read moreWorld wine production increased by two percent this year
The world's wine production this year is expected to grow by two percent to 275.7 million hectoliters. Italy will be the largest producer, followed by France and Spain – the...
Read moreThe European Parliament opposes national bans on GMO-food imports
The European Parliament rejected a draft law that would give individual countries in Europe scope to ban imports of genetically modified food and animal feed, potentially killing an initiative that...
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Consumer confidence declined in the United States in October
After the slight increase of the previous month, the consumer confidence index dropped significantly in the United States in October – the Conference Board economic institute announced on Tuesday. The...
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The humanoid robot made its debut in France
Pepper, the humanoid robot was first revealed more than a year ago at a conference on June 5 2014. Starting the next day Pepper was showcased to the public at...
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Italian beer pushes forward
Last year Italy’s beer export soared 27 percent. About half of exported Italian beers are sold in the United Kingdom. In the last 10 years Italy’s beer export tripled....
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Metro online: expansion in China
Germany’s biggest retailer, Metro AG is planning to start cooperating with Alibaba Group Holding. The German company will sell private label products on the website of the Chinese firm. In...
Read moreMagazine: Can you get the burnout syndrome at an early age?
Does someone have to live 30, 40 or 50 years to get the burnout syndrome? When a baby is born all they want is to be loved and this feeling...
Read moreAssociation of Hungarian Meat Industrialists: the European meat industry rejects the WHO’s study
The Association of Hungarian Meat Industrialists, as the member of the CLITRAVI, the European trade organization of the sector, in agreement with the European meat industrial companies informs the consumers...
Read moreAccording to the VHT the consumption of pork should be increased while the WHO study is unscientific
The Meat Marketing Board and Interprofessional Organization (VHT) wants to increase the consumption of pork in Hungary by 2020 – until the end of the current EU budget period; This...
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Agricultural exports decreased slightly
The agricultural export balance only moderated slightly in the first seven months of 2015, however, the Russian embargo remains a concern – the Magyar Idők wrote on Tuesday. On the...
Read moreFM: genetically modified varieties of maize cannot be grown in Hungary
On the basis of the Hungarian request submitted to the European Commission, the production licence of the previously approved genetically modified (GM) maize and the to be approved GMO maize...
Read moreLabor shortage can be an unmanageable problem by 2050
The decline of the working age population could lead to critical labor shortages in Europe by the mid-century. For 2050, the European continent will be the oldest region. 15 percent...
Read moreSuccessful agricultural research is needed for the development of agriculture
The development of the Hungarian agriculture and the ensuring of its competitiveness can not be achieved without effective agricultural research activities in Hungary – the Parliamentary Minister of State of...
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Choking mouse in the sugar dollop
The inspectors of the National Food Chain Safety Office (Nébih) found expired and unlabeled materials and products in a fondant manufacturing plant in Örkény, Pest County. During the investigation a...
Read moreSmart City application to be tested in Budapest
A Smart City application will be tested in Budapest, during which the public lighting will be adapted to the traffic, the noise and air pollution, and data will be collecterd...
Read moreFifteen hundred year old wine press was found after a storm in Israel
A large, well-preserved 1,500-year-old winery has been exposed during a violent storm in the Sharon Plain region, located between the Mediterranean Sea and Samarian Hills, the Antiquities Authority announced Monday....
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Applying Binding Corporate Rules in transfers of data
As of 1 October 2015 Binding Corporate Rules (BCR) have to be applied. What is BCR? Internal rules adopted by a multinational group of companies which define its global policy...
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New electronic invoice decree
On 1 July 2015 NGM decree 23/2014 (VI. 30.) entered into force: the new decree regulates the tax-authority identification of invoices and receipts and the tax-authority checking of invoices preserved...
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