Food and drink

Challenges lie ahead for CCHBC

Athens-listed Coca-Cola HBC is looking forward to even greater growth rates after 2023, with investments in new products that will serve the 24/7 strategy (products for all hours of the day and all days of the week), through capitalizing on the data it attaches great importance to, and by optimizing its performance at each point of sale.

Türkiye ranks 2nd in salmon production in world

Salmon production in Türkiye exceeded 190,000 tons in 2022, as the country ranked second in the world after Iran, the statistics by the United Nations' Food and Agriculture Organization (FAO) has revealed.

While Iran produced nearly 194,000 tons of salmon, over 1 million tons were produced in 77 countries, the FAO's report stated.

Consumption of milk is in further decline this year

The soaring retail prices of milk have led to a further decline in the consumption of the commodity this year, by 5.3% in sales volume terms in the year to April, following the drop registered for the first time in 2022.

Inflation has forced consumers to cut down even on basic food items, also switching away from branded products toward supermarkets' private label offerings.

First seafood receives geographical indication

A traditional Turkish seafood dish called "Sinop lakerda," which reflects thousands of years of marine and fishing culture of the northern province of Sinop, has become the first seafood product ever to receive a geographical indication.

"Sinop lakerda" is a pickled dish prepared by slicing toric or large bonito fish, native to the Black Sea region.

Nicosia to expand list with 0% VAT

Almost two weeks after the zeroing of the tax rate on seven products (bread, eggs, milk, baby diapers, baby food, feminine hygiene products, and adult diapers) in Cyprus, the island's ministries of Finance and of Commerce are in discussions regarding the next list of products that will have a low or reduced tax rate.

FAGE sees US sales turnover grow 9.7%

The price of the milk that dairy giant FAGE uses as a raw material in its factories in Greece and the US may have fallen by 36.8% and 15.3% respectively in the first quarter of 2023, but the prices at which the dairy industry sold its products increased on average in all the markets in which it operates by 15.5%.