Summary of Q4 highlights
Slow increase in industrial production and retail trade
EU food and drink industry gains renewed impetus in Q4 of 2010
Food producer prices continue to rise sharply in Q4 of 2010
Employment in the EU food and drink sector in Q4 2010 declines again with respect to Q3
Trade: Both imports and exports grow during Q3 of 2010 (year-on-year)*
Other Topics
Evolution of agricultural raw material prices during Q4 of 2010
Imported food prices continue to rise in Q4 of 2010 despite a relatively stable Euro
Trade partner profile – United States of America (USA)
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The economic performance of the EU food and drink industry during the fourth quarter of 2010, in the context of overall industrial production in the EU

EU food and drink industry evolution during Q4 of 2010*

output upfood producer prices upemployment downimports upexports up
*Due to the delay in availability of official trade data, imports and exports represent the evolution within Q3 of 2010 year-on-year.
Slow increase in industrial production and retail trade

Industrial production increased by +0.6% during the last quarter of 2010 in the euro area and by +0.5% in EU 27 compared to the previous quarter.

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EU food and drink industry gains renewed impetus in Q4 of 2010

Food and drink industry output grew markedly for both EU 27 and the euro zone area during the fourth quarter of 2010, registering a general increase of +1.51% and +1.84% respectively compared to the previous quarter (Q3).

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Food producer prices continue to rise sharply in Q4 of 2010

Food producer prices continued to rise sharply in Q4 due to the rise in the prices of certain raw materials such as soft wheat, oils, coffee and cocoa.

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Employment in the EU food and drink sector in Q4 2010 declines again with respect to Q3

After two quarters of continued growth in the number of persons employed in the food and drink industries, this trend was reversed again in Q4. Figures show a slight decrease despite the important growth in industrial orders and production registered in the same period.

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Trade: Both imports and exports grow during Q3 of 2010 (year-on-year)*

During Q3 of 2010, the EU trade balance for food and drink products amounted to over €1.5 billion. Given that the trade balance was just slightly positive during Q3 of the previous year, this means that a significant year-on-year improvement is visible.  

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Other Topics
Evolution of agricultural raw material prices during Q4 of 2010

Cocoa and coffee

The downward trend that characterised cocoa world prices in the last two quarters of 2010 halted in the second half of Q4.

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Imported food prices continue to rise in Q4 of 2010 despite a relatively stable Euro

Prices of imported food products from outside the EU continued to increase in Q4 following an upward trend which started at the end of Q4 2009. This happened despite a relatively stable Euro as outlined below.

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Trade partner profile – United States of America (USA)

The US represents the first export destination for European food and drink products. It is also the fourth most important trading partner, after Brazil, Argentina and China, providing the EU with import supplies. European exports to the US amounted to nearly €9.3 billion in 2009, while imports were close to €3 billion.

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Interview Section
Interview with the Federation of Hungarian Food Industries (ÉFOSZ)

 

Budapest, April 2011- Mr. Tamàs Éder, the President of ÉFOSZ, the Hungarian Food Industries Federation was interviewed to mark the first Hungarian Presidency of the Council of the European Union from January to June 2011. Mr. Éder gives an insight into the priorities of the Hungarian Presidency and elaborates on the challenges of Hungarian food and drink industry since EU accession.

 

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