Food industry turnover rises in fourth quarter 2022

17.6 per cent of food industry entrepreneurs expected sales to grow in the current fourth quarter in early October 2022. This is mainly due to higher prices: 67 per cent expect prices to continue to rise in the fourth quarter. About a quarter of entrepreneurs expect no obstacles for their business in the fourth quarter. For those companies that do foresee obstacles, staff shortages remain the biggest problem. This is according to an analysis of recent CBS figures by our editors.

Flour industry leading turnover expectations

In the flour industry, 71.7 per cent of entrepreneurs expected higher turnover in the fourth quarter of this year. In this branch of industry, most entrepreneurs also indicated (83.3 per cent) that prices will continue to rise in the fourth quarter. Entrepreneurs in the slaughterhouses and meat products industry (+31.9%) and the edible oils and fats industry (+42.8%) also scored high in the turnover expectations ranking. 

Worrying

In the dairy industry (-4.7%) and the fruit and vegetable processing industry (-2.4%), entrepreneurs were less optimistic in their turnover expectations at the beginning of October. In these industries, there are more entrepreneurs who expect a decrease in turnover than those who see their turnover increasing. In the fish processing industry, the number of turnover optimists equalled the number of pessimists. The outlook for these industries thus seems worrying because a large number of entrepreneurs do foresee price increases. 

Higher prices expected in all branches of the food industry  

In the food industry, the picture regarding price developments in the fourth quarter is one-sided. Price increases are expected in all industries. At the top is the flour industry (+83.3%), followed by the bread and pasta industry (+79.3%) and the dairy industry (+74.4%). The high bottom is formed by the animal feed industry (+33.8%) and the edible oils and fats industry (+34.3%).

Quarter of food industry entrepreneurs foresee no obstacles for their business

A stable percentage of entrepreneurs in the food industry (23.3%) do not foresee any major constraints for their business in the fourth quarter. Entrepreneurs who do foresee obstacles mention a shortage of personnel most often (29%). A shortage of means of production, etc. also scores high (19.4%). Although slightly increasing compared to expectations for the third quarter, insufficient demand (10.7%) and financial constraints (3.9%) are mentioned the least as obstacles.