Bakeries in Hungary can close in bulk

Published 2021년 11월 30일

Tridge summary

Bakeries in Hungary are facing challenges due to increasing costs, which may lead to the closure of hundreds of businesses in the next year or two. The rise in flour prices, along with raw material and shipping costs, is pushing up the prices of bakery products. From December, flour prices are expected to increase further, with other raw materials also becoming more expensive. The Hungarian Bakers' Association expects that around five hundred bakery businesses out of the current nine hundred may close by the end of 2023 due to these challenges.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Many bakeries in Hungary are struggling to survive, as the growth of raw materials and transport and energy costs can no longer be swallowed up by many players in the sector, regardless of the fact that bread and other bakery products will become more expensive, writes agrarszektor.hu . The bakers ’association estimates that in the year or two ahead, businesses that can’t produce cost-effectively could close in with hundreds, and hundreds of the existing 100,000 bakery businesses could be shut down in the next period. Rising flour prices, rising raw material prices and rising shipping costs make baked goods more expensive Bread and bakery products will not be left out of this year's price increases either, customers will be able to find more expensive bakery products in the shops in the coming weeks and months, writes Magyar Nemzet. The rise in prices is due to higher prices for raw materials and transport and energy costs. Although the level of costs has increased to a different ...
Source: Trademagazin

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.