Spar foresees 10-15% increase in pork sales
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.
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