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SPPK: Agriculture and food industry concerned about effects of crisis

Entreprenuers in the agriculture and food industry are concerned about the financial crisis, a poll carried out by the Slovak Agriculture and Food Chamber (SPPK) reveals, SPPK spokesman Stanislav Nemec told the TASR newswire on November 11.

Entreprenuers in the agriculture and food industry are concerned about the financial crisis, a poll carried out by the Slovak Agriculture and Food Chamber (SPPK) reveals, SPPK spokesman Stanislav Nemec told the TASR newswire on November 11.

More than half of the respondents (54 percent) reported feeling the impact of the crisis even now. A further 42.7 percent are expecting that the negative effects will appear sooner or later.

Almost 54 percent of the agro-food industry reports worsening payment discipline among their business partners, and almost one in five cited an expected - and even current - drop in their order books.

According to the SPPK poll, 46.4 percent of the farmers, the food industry and service providers are experiencing reduced access to foreign financial sources. It's alarming, Nemec said, that 63.8 percent of respondents have mentioned rising costs in connection with gaining loans and credits. On the other hand, only 14.2 percent said that they had no access to such money. When it comes to the workforce, 17.8 percent of employers in the agro-food industry are expecting redundancies and 49.3 of them concede that they may introduce austerity measures.

About four out of five respondents expect the situation to get worse, with profits falling and investment activities being the foremost casualty. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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