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Home arrow News arrow Business News arrow USA News arrow Hungarian Salami on the U.S. marketplace once again
Hungarian Salami on the U.S. marketplace once again PDF Print E-mail
Monday, 09 March 2009
After many years Pick has again started delivering to the U.S. as it got profitable to modify its technology to comform to  U.S. regulations as well due to the weakening of the Hungarian Forint. The positive effects of the currency weakening however can only be exploited by few food manufacturers - wrote the Nepszabadsag. The weak Forint after many years has again created the opportunity for Pick to put its Hungarian Salami on the U.S. market again. CEO Laszlo Kovacs said to the Nepszabadsag that after last years' 15-16% increase we can count on 10% decrease this year, so that's also why they had to find new markets. This week they've shipped 12 tons of salami to America which comforms to local regulations as well. The leader anticipated deliveries to Mexico and Japan, too.
The weakening of the currency however cannot be exploited by all companies. According to Tamas Eder, president of the National Association for Food Processing Companies food manufacturers profit little from the exchange rate gain, because - due to the economic crisis - consumption is also decreasing on their prime markets. Meanwhile, importers are trying to keep their prices down blaming the weakening of consumption and their currency.

Many Hungarian companies are focusing on the still growing Romania, Univer amongst them. Head of Commerce at Hilltop Neszmely Boraszati Zrt, - one of the wine producers -, says this year they have made successful business arrangements with U.K. companies, consequently having increased their bottling lines 3-fold.

Concerning processed goods Mars Magyarorszag Bt., the company owning the largest export share, has not changed earlier plans. However, national milk processors can only sell their products by giving great discounts in spite of being successful in finding new markets, thus the currency rate gain not being a great advantage to them.

A poultry processor - Hungerit - has not only managed to secure an annual contract with foreign buyers, but also obtained financing for its production, though at a time when the Euro cost 230-235 Forints. Also, they took out insurance to cover rate changes only at 248-252 Forint/Euro - says Nepszabadsag.
 
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