Dark times are coming to the confectionery industry, Christmas will be a big challenge

By: Trademagazin Date: 2022. 10. 13. 10:04

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Many Hungarian favorites may disappear from store shelves this year, like Pilóta keksz, because every element of the confectionery industry is affected by the severe food crisis and brutal inflation.

“All typical ingredients of sweets have become significantly more expensive on the world market. As a result of the intervention of the World Trade Organization and the European Union’s regulation of the sugar market, the number and production of European sugar factories decreased by almost half between 2006 and 2017, and our region thus changed from an exporter to an importer. Several other factors – the declining beet plantations, the climate crisis, plant diseases, the decline in beet and corn yields – also contribute to the fact that the supply of sugar and isoglucose (corn syrup) is getting smaller and smaller, while imports are hampered by high tariffs and tight quotas. In Hungary, corn had a horror year from this year”

– explained Gábor Intődy, Secretary General of the Association of Hungarian Confectionery Manufacturers (Hunbisco) in his interview with Pénzcentrum.

According to the expert, a lot of products may disappear, and the upcoming Christmas may bring horror prices to Hungarians in addition to stock shortages.