Lidl Hungary pays more for local milk
In order to support the Hungarian dairy market, which has encountered difficulties lately, the local subsidiary of food retail chain Lidl has decided to pay at least HUF 10 per liter more for milk to dairy farmers from today, according to a company press release.
Stressing its commitment to the domestic dairy sector, Lidl Hungary noted that it purchased 56 million liters of milk from Hungarian farmers last year, six million liters more than in the preceding year, while it bought 2,600 tons of cheese last year, 400 tons more than the year before. The press statement added that its milk and dairy exports have expanded, as in the past year it has sold such Hungarian products to seven European countries, to a value of approximately HUF 650 million.
Following numerous protests at the beginning of the year by dairy farmers voicing their discontent about the low purchase price of milk and cheap milk imports, the Hungarian government decided in May to lower the VAT rate on raw milk from the current 27% to 5% from next year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.