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Poland Food and Drink Report Q1 2010
Business Monitor International, Nov 2009, Pages: 89
The Poland Food and Drink Report provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Poland's food and drink industry.
In the Business Environment Rating (BER) matrix for Q110, Poland continues to improve its position, and is now placed fourth out of the 15 key regional markets in Emerging Europe, which now includes Turkey. Although its 2009-2014 food consumption forecast is low, the country’s low urbanisation rates and vast population numbers will continue to represent a major draw for investors. The country also provides an attractive business environment, with foreign businesses permitted largely unrestricted ownership of Polish assets. In fact, most major producers within the food and drinks industry have already been acquired by foreign players, although most of the market segments remain unsaturated.
The above point is illustrated by the breadth and depth of industry news across Polish food industries in particular. For example, in September 2009, targeting a leading position in Poland's promising bottled water industry, domestic producer Polskie Zdroje announced plans to pursue an organic growth geared strategy to raise its market share, counting largely on its Cisowianka subsidiary. On an acquisition front, US-based agribusiness and food company Bunge acquired a Poland- and Finland-based margarine business from Finnish food and ingredients group Raisio. Around the same time, the domestic confectionery trio – Mieszko, Wawel and Jutrzenka – were expected to report above-consensus thirdquarter sales and earnings, despite stiff competition in the shape of multinationals such as Nestlé and Cadbury.
The country’s food consumption is expected to reach PLN95.3bn (US$31bn) in 2009, with the 0.4% yearon- year (y-o-y) rise in local currency mostly due to inflationary pressures, as volumes of premium-end products suffer and mass grocery retail (MGR) price wars intensify. In fact, according to estimates made by the Institute of Agriculture and Food Economy, food and non-alcoholic drink prices are expected to increase by between 4% and 4.2% y-o-y by the end of 2009, with inflation already pushing the prices up by 4.5% in H109, following a 4% rise in Q109. In the period, the most heavily affected products were pork and poultry, the prices of which increased by an average of 10%.
On the other hand, Poland’s alcoholic beverages sector has clearly not escaped the consequences of the economic downturn. In October 2009, the Union of Brewing Industry Employers in Poland (ZPPP) reported that beer sales registered a 12.5% y-o-y fall in H109 – the first drop since the end of communism. In the same period, demand for vodka in Poland also dropped by 15% y-o-y, which was partly attributed to an excise duty hike earlier in the year, but partly to the ongoing consumer confidence reduction. In fact, although demand is believed to be exceeding supply by as much as 3mn hectolitres, SABMiller's fully owned Polish unit Kompania Piwowarska announced plans to close down its Kielcebased brewery, as well as its distribution sections at depots in Olsztyn, Torun and Zielona Góra.
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