Producer confidence in food industry declines

Recent figures from the Central Bureau of Statistics (CBS) show that confidence among food industry entrepreneurs fell in May 2023. Producer confidence fell from 3.0 in April to 2.1 in May, mainly due to a less positive assessment of the order portfolio.

Although producer confidence is still above the average of the past 20 years (1.3), a clear shift can be seen. In November 2021, business confidence peaked at 12.7, while in April 2020 it recorded its lowest ever value (-28.7).

Regarding specific aspects of business, entrepreneurs are mainly less positive about the order book. Opinions on expected production in the next three months and stocks of finished goods also deteriorated.

In addition, CBS data show that production in Dutch manufacturing declined by 4.0 per cent in March 2023 compared to March 2022. This downward trend also continued in the previous two months of 2023.

The deterioration in producer confidence in the Netherlands takes place against the backdrop of a similar development in Germany, an important sales market for the Dutch food industry.

Cbs.nl