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Irrigation would cost hundreds of billions, but it would generate serious extra income
A 180-page study was conducted by the Agricultural Research Institute on the development of irrigation. Researchers took into account the water needs of plants, soil conditions and water resources, and...
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An award for retailers that popularise Hungarian products
Hungarian Product Nonprofit Kft. and Trade magazin have established an award for retailers: those can win it who do the most for promoting the sales of Hungarian products (it is the...
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Tax policy
In the Hungarian Parliament’s early summer session the new government announced their proposal to cut the VAT on long shelf life milk and increase the rate of the public health...
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Last year was a good one for wholesalers too
In 2017 not only retailers had a good year, but also the wholesalers that serve both the retail and the Horeca segments. Wholesalers sold products for HUF 1,000-1,200 billion to Horeca...
Read moreKSH: the growth of retail sales continues
Retail sales, calculated on unchanged price increased by 4.3 percent in April, compared to the data of a year before. Seasonally adjusted retail sales – mainly due to the Easter...
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The Ministry of Finance proposes decreasing milk VAT and increasing public health product tax
The Ministry of Finance has submitted its bill on tax changes for next year – Varga Mihály Finance Minister informs. In line with the government’s goal of charging the most...
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Mastercard: mobile payment is becoming more and more popular in Hungary
Mobile payment in Hungary is becoming more and more popular: Hungarian cardholders have been using mobile phones for one-touch payments much more times than in the first five months of...
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Hungary continues to expand its agricultural relations with Africa
Research and business cooperation, as well as the existing forms of knowledge transfer can provide a solid foundation for the further development of Hungarian-African agricultural relations – Farkas Sándor, Minister...
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Luxembourg is the richest, Bulgaria is the poorest country in the EU
Although somewhat reduced, there is still a huge difference between the richest and poorest countries in the European Union, between Luxembourg and Bulgaria. In terms of purchasing power parity, the...
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Large number of cafeteria benefits expected from Hungarian SMEs
Seven from ten SMEs plan to give their employees some kind of cafeteria benefit and this is a very big increase from the level measured a year ago – revealed...
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Hungarian retail trade maintains momentum
Like-for-like retail sales of food and drug products were up 8.3 percent in the first quarter of 2018 in Hungary. In the same period the average FMCG sales growth was only...
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Large companies are starting to get in the investment mood
According to K&H’s corporate growth index, 54 percent of Hungarian companies – non-state-owned firms with annual sales revenue above HUF 2 billion – are planning to realise some kind of...
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Slaughter pig’s price started to go down again in April
According to data from the Central Statistical Office (KSH), in April 2018 agricultural production prices were 1.2 percent higher than in the same period of 2017. This rise was the...
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The sales growth continued in April
In April 2018 like-for-like retail volume sales augmented by 4.4 percent; adjusted for calendar effects, the sales growth was 6.1 percent – reported the Central Statistical Office (KSH). Food and...
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Kosher food from Hungary
Hungary is going to develop a build food distribution centre that will have the potential to turn the country into one of the most important players in the kosher food...
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Food prices grew above the average in May
In May 2018 consumer prices were 2.8 percent higher on average than a year before. In comparison with May 2017, food prices increased by 3.8 percent. Egg’s price soared by...
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Consumption is growing rapidly this year too
GKI Economic Research Zrt. has increased its growth forecast from 3.8 percent to 4 percent for 2018. In March the growth in industrial production slowed down: while in the first...
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The idyllic days are over
In 2017 Hungarian shoppers ordered products online approximately 33 million times and 70 percent of these were delivered by the logistics partners of online shops. Very often delivery was free for...
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Wine trading surplus
Data from the Agricultural Economics Research Institute (AKI) and KSH’s market price information system (PÁIR) revealed that Hungary’s live pig export fell 14 percent in the first quarter of 2018....
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The Agrarian Chamber and the food processors are calling for reconciliation on the public health product tax
The National Chamber of Agriculture (NAK) and the National Federation of Food Processors (ÉFOSZ) initiate a technical consultation because they know that there is a change in the legislation on...
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FruitVeB: less and less raspberries grow every year
Hungarian raspberry production is decreasing year after year. This year less than a thousand tons of raspberries will be harvested from 200 hectares of cultivated land, only half of which...
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Hungarians learn new professions for good salary and for hobby
From year to year, the number of adults who sit back to school and learn a new professions is growing. Currently several thousands of people are involved in these type...
Read moreLondon analysts: it may cost a thousand pounds per household if the EU duty-free status ceases
London’s financial analysts say that if, after the expiration of the British EU membership, customs duties appear in the UK’s and the European Union’s total duty-free trade it will cost...
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Primary school students can learn about diabetes next year
Next year, students, teachers and the parents of children can gain comprehensive knowledge of diabetes in the KiDS program, which is initiated by the International Diabetes Association, primarily aimed at...
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One can sign up in NAV’s Online Account system
One must register for the mandatory billing service from 1 July who issues a minimum of 100,000 HUF VAT invoices for domestic taxpayers, either by billing or with billing program....
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Free trade negotiations have started between Australia and the EU
The free trade negotiations between the European Union and Australia were officially launched. Malcolm Turnbull Australian Prime Minister, Australian Trade Minister Steven Ciobo and Cecilia Malmström, member of the European...
Read moreWe can expect moderate wheat yield
Despite the rain, wheat growers expect moderate crops, but there will be huge fluctuations: there will be very excellent and very poor yields – Világgazdaság Online wrote. World market prices,...
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Magazine: How did the most valuable FMCG brands start 2018?
Neticle is a system that collects the occasions when brands are mentioned online and in social media, and analyses the opinions automatically. Relying on this, Neticle ranks brands according to the...
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Nielsen: companies in Central Europe generously support sports
In 2018 alone, the companies wil spend 355-365 million USD for sports and festival sponsorships in Hungary Poland and the Czech Republic according to the Nielsen Sports research. Ninety percent...
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The Chamber of Commerce urges the extension of the reverse VAT payment
The National Chamber of Agriculture (NAK) urges the extension of the reverse VAT payment system for cereals and certain oil crops. The current system will expire on 31 December 2018....
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