BUDAPEST: Gyula local council-owned meat firm Gyulahús has decided to take steps in order to boost its exports to the Far East, Managing Director Zsolt Daka said on Thursday, according to reports.
After showing at the Foodex food and drink fair in Tokyo earlier this year, the company has started working on the development of a sausage specifically targeted at the Japanese market, wire service MTI reported. Although the company has not yet signed any contracts with Japanese firms, Daka is positive and says 3-4 years might be needed to win over the confidence of local businesses.
Today, Gyulahús exports approximately ten tons of sausage to Hong Kong on a yearly basis and the targeted Japanese exports are aimed at boosting this amount. The company has just received the necessary permits to export to Vietnam, while receipt of such permits is currently pending in Singapore.
Gyulahús saw revenues rising by 5% to HUF 5.3 billion last year, though profit is thought to have fallen from approximately HUF 500 million on higher marketing and raw materials costs, according to MTI. The company targets a 4-5% revenue rise for 2017 and capital expenditures of HUF 200 mln.
