The food industry is booming

By: STA Date: 2023. 06. 08. 09:00

The government’s goal is to protect Hungarian families and pensioners even in the economic situation affected by the sanctions, and to prevent recession and reduce inflation to single digits by the end of the year, said Dr. Márton Nobilis, State Secretary of the Ministry of Agriculture responsible for the food industry and trade policy, at the FMCG TOP Professional Conference in Budapest.

(Photo: AM/Tibor Vermes)

The Secretary of State reminded that energy prices have skyrocketed due to the coronavirus, the war and the failed Brussels sanctions, thus damaging supply chains and increasing transport costs. Due to the situation, the government has helped and continues to help Hungarian families by introducing several anti-inflation tools. Such was the gasoline and food price freeze, the now-introduced mandatory promotions and the online price monitoring system launched in July. The two new measures are expected to generate significant competition in retail trade, thus giving an extra boost to the reduction of food prices. He explained that compared to the previous month, the prices of dairy products, dry pasta, bread, butter, and sausages have already decreased, and the same can be seen in the prices of fuels and household energy.

Dr. Márton Nobilis highlighted that in the 2014-2020 support period, more than HUF 468 billion was awarded to the food industry

This was already an outstanding amount, which was able to provide assistance to the actors of the sector, however, the current support period of 2021-2027 is planned with even more resources, HUF 750 billion has been allocated for food industry developments. An industry can be successful if it can stand on the domestic market as well as on the international stage. For this, it is essential to know the characteristics of the area, the related targeted interventions and developments. That is why it is important that we have national champions in the food industry as well, who will hold their own on the world market, he added. The State Secretary emphasized that Hungary’s success is the result of the operation of successful Hungarian enterprises and companies. In the long term, the engine of growth and competitiveness can only be the creative power of enterprises, their innovation and developments based on tradition, only in this way can we be the winners of the new era of food production – he concluded.