MBH: the prospects for the Hungarian food industry continued to improve in the third quarter

By: Trademagazin Date: 2023. 12. 06. 12:57

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This year, after the strengthening experienced in the first half of the year, the prospects of the Hungarian food industry improved further in the third quarter, the more favorable situation of livestock keepers is driving the sector – MBH Bank informed MTI on Wednesday.

According to the MBH AgrárTrend Index – a quarterly analysis of the bank’s agricultural and food industry business – food inflation moderated to around 10 percent by autumn, so they are confident that demand for store products will also improve in addition to the strengthening of real wages. The food retail turnover is still lagging behind the usual.

The announcement quoted Dávid Hollósi, the managing director of MBH Bank’s agricultural and food business, who said that 2024 will be a transitional year in agriculture. One year is not enough to recover, the supply chains partially damaged due to the Russian-Ukrainian war can be restored by 2025, by which time real wages can continue to strengthen and consumption can also increase substantially, he explained.