The real increase in meat prices is just beginning in Hungarian stores

Published Aug 3, 2022

Tridge summary

The article outlines the significant shifts in Hungary's meat consumption during the coronavirus pandemic, as reported by the president of the Meat Association, Tamás Éder. The pandemic led to altered eating habits, with a noticeable decrease in demand for certain meat parts due to the closure of restaurants and office canteens. However, this decline was largely balanced by an increase in demand for other meat parts. Retail chains and larger companies have emerged as the main beneficiaries, while small and medium-sized enterprises, dependent on the HoReCa sector, have struggled. The situation is further complicated by rising meat prices, exacerbated by increased grain costs and an oversupply in the global pork market due to reduced Chinese imports. This has resulted in a challenging environment for the meat industry, with concerns about the sustainability of rising prices and the impact on consumers and producers alike.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the president of the Meat Association, the meat consumption of Hungarians changed even during the coronavirus epidemic, but this was basically and primarily due to the fact that the locations of meals in the lives of a part of the population changed. The periodical, complete reduction of public catering, companies' own canteens, and eating in restaurants resulted in a substantial decrease in demand for certain meat parts, but this was practically compensated by the demand for other meat parts - explained Tamás Éder. In other words, with regard to pork, there was no significant change in the meat consumption itself, but there was a change in the internal structure. - Tamás Éder illustrated the phenomenon with an example. The specialist also talked about how the other significant structural change came from the place of consumption, as people ate less in restaurants and public catering. As a result, the supply through wholesalers decreased a little, and this put the ...

Source: Agrarszektor