Hungary’s largest poultry producer and processer, Hajdu-Bet, plans to invest HFt2bn (US$8.1m) in order to meet environmental and quality standards set by the EU.
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81% of Hajdu-Bet’s exports are to EU countries, mainly Germany, France and Great Britain. Another main destination for exports is Japan.
With five factories and 3,400 employees, Hajdu-Bet controls around 20% of the Hungarian poultry market, 40% of the Hungarian semi-finished and finished poultry products, and around 18% of the country’s poultry export market.
The company expects its pre-tax profit to increase to HFt331m this year from HFt176m last year. It is also expected that exports will account for HFt20.045bn of Hajdu-Bet’s HFt44.158bn consolidated net revenue.
Hajdu-Bet mainly focuses on frozen, fresh and sliced poultry products, but it aims to meet demand in the EU by expanding its production of ready-made products such as breaded chicken, reported EcoNews.
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By GlobalDataThe Hungarian government has provided subsidies amounting to one tenth of the HFt2bn to help the company meet EU standards.
