Hungary: Bread occupies a prominent place in the food industry

Published Nov 20, 2022

Tridge summary

Hungary's agriculture sector has shown resilience to global food security challenges, including the impact of the war, energy crisis, and drought, by maintaining the supply of quality, safe food to its population and seeing an increase in output and agricultural exports. The state secretary has emphasized the need for modernization to maintain competitiveness and has announced significant development funds for the food industry sector, with a goal of receiving HUF 700 billion in support between 2021 and 2027.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the announcement, the state secretary emphasized that due to the war, the energy crisis caused by Brussels sanctions and the drought, food security challenges unseen for decades are occurring in many parts of the world, but in Hungary, the crisis resistance of the sector is proven by the fact that Hungarian agriculture has ensured the supply of high-quality, safe food to the population, while output and agricultural exports increased. To remain competitive in the medium and long term, the modernization of the sector is essential. In the next period, significant political tools will help the renewal of the agricultural economy. As a result of the developments, the sector's competitiveness and input efficiency will continue to rise, which will contribute to the management of most of the challenges, the state secretary explained. Márton Nobilis also touched on the fact that in the coming years, more funds are available for investments than ever before. Technological ...

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