Saturday , March 6 2021
Breaking News
Home / Hungry / Hungarian Government approves food industry development strategy, set target of 7-10% increase
Hungarian Government approves food industry development strategy, set target of 7-10% increase

Hungarian Government approves food industry development strategy, set target of 7-10% increase

BUDAPEST: Hungaryʼs government approved a mid- and long-term development strategy for the countryʼs food industry, which aims to raise the sectorʼs profit margin from break-even to 4-5% by 2020, Hungary’s Ministry of Agriculture said yesterday.

It targets a 7-10% increase of domestic sales and a 30-40% rise in exports,  state secretary for supermarket oversight Robert Zsigó added. Some HUF 300 bln in European Union and state grant money will be available to the food industry over the next five years, Minister of Agriculture Sándor Fazekas said.