Spar foresees 10-15% increase in pork sales

EU

pixabay

The Hungarian unit of Austrian supermarket chain Spar expects sales of pork to grow by 10-15% at its stores in the coming months due to a VAT decrease on pork meat from 27% to 5%, Hungarian news agency MTI reported today, citing the company.

Spar, which sells more than 30,000 tonnes of pork a year, is the only retailer operating its own meat processing unit in Hungary, MTI reported. Spar spent HUF 1.7 billion last year to expand its meat processing unit to 10,000 sqm from 7,600 sqm, adding a slicing station and a training center, MTI reported. The unit reportedly processed 2,700 cattle and 400,000 pork sides last year.

The VAT rate decrease on pork caused panic in other sectors, which claimed that falling pork prices would hurt their businesses, and some began lobbying for similar measures, according to reports.

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

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.