The volume of household food purchases fell by 3.5 percent in the first half of 2023 compared to the previous year, making it slightly below the level before the start of the corona pandemic.
This is mainly attributed to inflation-related factors. Consumers are increasingly shopping at discounters and supermarkets instead of direct marketers or specialist retailers, according to Minister of Agriculture Norbert Totschnig (ÖVP) in the “Report on National Food Security”.
“We see that sales of quality food are declining and the jungle of private labels is growing,” said the minister. Especially when it comes to meat consumption, consumers show a certain reluctance when purchasing expensive products.
Food supply in Austria secured
The Minister of Agriculture emphasized that the food supply in Austria is safe. “Food production and food trade in Austria are functioning without disruptions. However, high energy costs, the associated increases in production and input costs and, above all, inflation continue to have an impact on the entire value chain,” Totschnig explains.
The harvest is above last year’s level
Regarding this year’s harvest, he said that grain production (excluding corn) is estimated at about three million tons. It is therefore above last year’s level thanks to higher yields and a larger cultivated area. “Projected total corn production in 2023 will exceed the previous year by 5.36 million tons,” the Agriculture Minister said.
Agriculture produces more than it consumes
A look at the level of self-sufficiency shows that the Austrian agricultural economy sometimes produces considerably more than is consumed in this country. The self-sufficiency rate for drinking milk is 178 percent, for beef and veal 147 percent and for pork 108 percent. When it comes to wine, the supply is one hundred percent.
More is consumed than produced for potatoes (90 percent) and grain (87 percent). Especially when it comes to grain, the number fluctuates annually, largely depending on the weather. Grain also includes feed grain.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
