site.btaEconomy Ministry: Food Processing Companies Report Record-high Turnover for Past 12 Years
Enterprises in food processing have reported record-high turnover for the last 12 years, which marks an annual growth of over 36% in 2022, caretaker Economy and Industry Minister Nikola Stoyanov said here on Wednesday at a forum promoting Bulgarian food. He added that more than 5,000 companies operate in the sector, employing around 70,000 people.
The food processing industry is among the sectors that have been developing steadily in recent years in Bulgaria, but it has much greater potential, Stoyanov stressed.
Minister Stoyanov also commented on the government's actions to reduce food prices. He explained that since its launch, the price monitoring website is visited by an average of 10,000 people daily. "We are also counting on the activity of retail chains - if they join the process, the site will provide an even more complete picture for consumers and producers," the Minister said.
"We are actively working to expand the market presence of LB Bulgaricum throughout the country, because we believe that this is also a mechanism to increase competition on the market, to the benefit of the end consumer," Nikola Stoyanov further said. He explained that even with the reduced prices in the shops of the State-owned dairy company, it is once again profitable, while observing all quality standards.