Polish Food & Agro Market outline – recent developments and the COVID-19 impact
RVO Central & European Business Days
Michał Siwek December 8th 2020 Agenda
. Positioning of Poland as a food production powerhouse
. COVID-19 effects on the food industry in Poland
. Sub-sectors focus
. Closure remarks
International Food&Agri Hub Department 2 Agenda
. Positioning of Poland as a food production powerhouse
. COVID-19 effects on the food industry in Poland
. Sub-sectors focus
. Closure remarks
International Food&Agri Hub Department 3 The size of Polish economy is presently 2/3 of the Netherlands’ in comparison to less than its half in 2004 Netherlands Gross Domestic Product, EUR bn, in constant 2010 prices Poland
700
650
600 +26% -218 550 (-33%) 500
450
400 -277 (-53%) 350 +79% 300
250
200
150
100
50
0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Eurostat
International Food&Agri Hub Department 4 Food & Agro sector was closing the gap even faster, however, the difference in last years remained fairly stable Netherlands Gross Value Added (GDP contribution), Agriculture, Food, Beverages and Tobacco Manufacturing, EUR bn, in constant 2010 prices Poland
26
24 -4 +13% (-17%) 22
20 -8 18 (-36%) +46% 16
14
12
10
8
6
4
2
0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Note: 2018 in Poland was one of the least fertile years of the last decade due to unfavorable weather conditions Source: Eurostat
International Food&Agri Hub Department 5 Poland has large resources of land and lays conveniently among 250 mn of consumers within the 1000 km radius
Arable land in the EU countries, mn ha, 2019 Central Europe
France 18.1 Spain 11.9 Germany 11.7 Poland 11.0 Romania 8.7 Italy 6.7 Hungary 4.3 Bulgaria 3.5 Sweden 2.6 Czechia 2.5 Denmark 2.4 Finland 2.2 Greece 2.1 Lithuania 2.1 Slovakia 1.3 Austria 1.3 Latvia 1.3 Netherlands 1.0 Portugal 0.9 Belgium 0.9 Croatia 0.8 Estonia 0.7 Ireland 0.5 Slovenia 0.2 Cyprus 0.1 Luxembourg 0.1 Malta 0.0
Source: FAO, McKinsey & Company
International Food&Agri Hub Department 6 Flat area and the location in the middle of Europe facilitates transportation of Polish Food & Agri goods, giving advantage over direct competitors
Physical map of Europe Distance from Amsterdam to major agricultural region in largest CEE countries
in kilometers
Poznań, 891 Poland
Cluj-Napoca, 1.884 Romania
Vinnitsa, 1.914 Ukraine
in hours of driving
Poznań, 9.0 Poland
Cluj-Napoca, 20.3 Romania
Vinnitsa, 20.8 Ukraine
Source: Google Maps, Wikimedia
International Food&Agri Hub Department 7 Poland has large labor force and ranks among the EU’s member states with the lowest unemployment rate
Labor force, mn people Unemployment rate, Sep 2020
Germany 41.7 Czechia 2.8 France 26.7 Poland 3.1 Italy 22.7 Malta 4.0 Spain 18.6 Netherlands 4.4 Poland 16.3 Hungary 4.4 Netherlands 8.9 Germany 4.5 Romania 8.5 Slovenia 4.7 Czechia 5.2 Romania 5.2 Sweden 5.0 Belgium 5.2 -4.4 Belgium 4.8 Austria 5.5 Portugal 4.7 Denmark 6.1 Bulgaria 6.2 Hungary 4.4 Luxembourg 6.7 Austria 4.2 Slovakia 6.8 Greece 3.8 Ireland 7.3 Bulgaria 3.1 EU-27 7.5 Denmark 2.8 Portugal 7.7 Finland 2.5 France 7.9 Slovakia 2.5 Cyprus 8.0 Ireland 2.2 Estonia 8.0 Croatia 1.7 Croatia 8.2 Lithuania 1.4 Finland 8.3 Slovenia 1.0 Latvia 8.4 Latvia 0.9 Sweden 8.9 Estonia 0.6 Italy 9.6 Cyprus 0.4 Lithuania 9.8 Luxembourg 0.3 Spain 16.5 Malta 0.3 Greece 16.8
Source: Eurostat
International Food&Agri Hub Department 8 Poland has been gradually raising its significance in the Food & Agri international trade and has been recording a regular growth in the trade balance
Poland’s F&A goods international trade, USD bn, in constant 2010 USD Export Import Net export = Export – import
50 46
40 40 38 38 37 35
29 30 30 28 26 24 22 20 19 16 14 13 12 9 10 10 8 9 8 6 4 4 2 3 3 4 4 3 4 0
-10 -9 -11 -12 -15 -20 -18 -20 -22 -25 -25 -24 -27 -30 -29 -28 -29 -31 -33 -40 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Note: The numbers may not add up due to roundings Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 9 Agriculture plays a key role in Polish international sales, being responsible for 15% of Polish exports
Polish export composition, 2018
Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 10 Concerning agriculture, the Netherlands is the 3rd largest partner in exports and 2nd largest in imports of Poland
Poland’s agriculture export, in USD Poland’s agriculture import, in USD
Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 11 Foreign owners control almost half of the revenues of the largest F&A companies in Poland, the Dutch own 4% of the revenue stream
APPROXIMATION F&A revenues by origin of group shareholders1, %
USA 4,6 100% = EUR 54.5 bn Germany 3,8 France 3,0 Netherlands 2,2 Denmark 2,0 China 1,8 Japan 1,2 Switzerland 1,2 United Kingdom 1,1 Norway 1,0 Italy 0,9 Austria 0,4 4,0% Netherlands Belgium 0,3 Czech Republic 0,2 Sweden 0,1 Poland 55,0% Ukraine 0,1 Canada 0,1 Spain 0,1 South Africa 0,1 Ireland 0,1 Thailand 0,1 Lithuania 0,1 Finland 0,0 Nigeria 0,0 Croatia 0,0 Slovakia 0,0 Israel 0,0 Total 24,5 1Among Polish Food & Agro capital groups exceeding annual revenues of 10 EUR mn, app. 800 groups Source: EMIS
International Food&Agri Hub Department 12 Agenda
. Positioning of Poland as a food production powerhouse
. COVID-19 effects on the food industry in Poland
. Sub-sectors focus
. Closure remarks
International Food&Agri Hub Department 13 Food & Agro products tend to be less affected by crises than other economy branches
Median negative change in household consumption by product categories in the EU+UK, 1996-2019, %
-1.0
-1.3
-2.0 -2.1 -2.1
-2.4 -2.6 -2.8 -2.8 -3.0 -3.1 -3.3 Energy Food, Clothing Health Hotels, Culture, Alcohol & Household Other Education Logistics Transport non-alcoholic restaurants recreation tobacco appliances, beverages products electronics
Source: Eurostat
International Food&Agri Hub Department 14 Polish food exports during the pandemic fell below the levels observed in preceding years in EUR
Food exports from Poland, EUR bn 2020 2019 2018
First lockdown 2.95 2.90 2.85 2.80
2.75 March 2020 +8.2% vs 2019 2.70 2.65 2.60 2.55 2.50
2.45 May 2020 -6.8% vs 2019 2.40 2.35 2.30 2.25 2.20 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Source: UN Comtrade
International Food&Agri Hub Department 15 Polish złoty (PLN) depreciated significantly during the first lockdown and remained at the level of 4.50-4.60 PLN for 1 EUR, vs. 4.20-4.30 rate below the crises…
EUR/PLN exchange rate, 1 EUR = X.X PLN First lockdown 4.7
4.6
4.5
4.4
4.3
4.2
4.1
4.0
3.9
3.8
3.7
3.6
3.5
3.4
3.3
3.2 01/05 01/06 01/07 01/08 01/09 01/10 01/11 01/12 01/13 01/14 01/15 01/16 01/17 01/18 01/19 01/20
Source: National Bank of Poland
International Food&Agri Hub Department 16 …what helped the exports measured in PLN to actually keep growing
2020 2019 2018 Food exports from Poland, PLN bn First lockdown 11.4 11.2 11.0 10.8 March 2020 10.6 +14.0% vs 2019 10.4 10.2 10.0 9.8 May 2020 vs 2019 9.6 +0.9% 9.4 9.2 9.0 8.8 8.6 8.4 8.2 8.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Source: UN Comtrade, National Bank of Poland
International Food&Agri Hub Department 17 The first pandemic wave influenced the exports of Polish Food & Agri products sector with varying degrees; meat and vegetables were the subsectors affected most severely
Food exports1 from Poland, in PLN bn, % change YoY
102 106 103 116 104 102 112 92 82 84 91 99 Meat and edible offal Cocoa and cocoa preparations
Dairy products; bird 110 109 111 112 eggs; natural honey; 97 101 98 101 92 103 96 107 edible products of Fish and crustaceans, animal origin, not molluscs and other elsewhere specified or aquatic invertebrates included
134 141 130 120 117 120 110 102 97 104 113 Preparations of 90 Residues and waste cereals, flour, starch from the food industry; or milk; confectionery ready-made food for bread animals
111 101 105 105 102 95 109 101 Miscellaneous 88 87 83 91 edible Preparations of preparations vegetables, fruit, nuts or other parts of plants
100 99 121 121 95 86 89 96 103 110 106 108 Preparations of meat, Edible vegetables and fish or crustaceans, certain roots and molluscs or other tubers aquatic invertebrates Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun
Note: The top 10 HS2 categories of Polish food exports, in total 78% of the value of food exports in 2019 Source: UN Comtrade, National Bank of Poland
International Food&Agri Hub Department 18 Agenda
. Positioning of Poland as a food production powerhouse
. COVID-19 effects on the food industry in Poland
. Sub-sectors focus
. Closure remarks
International Food&Agri Hub Department 19 We will be further focusing on 5 subsectors...
M F D
Meat Feed Dairy
V P
Vegetables Potato
International Food&Agri Hub Department 20 Poultry meat production doubled in the last decade and is currently the largest in the EU; M other meat production have been stagnating however its size is fairly considerable
Meat production in Poland per meat type, 2010 production = 100 Poultry meat production in EU, 2019, M t
200 Poultry
190 Pig Cattle 180
170 ≥ 100
160 101-250
150 251-500 +98% 140 501-1000 1.1 2.7 130 0,5 1.8
120 1001-1500 1.8 0.7 110 0.5 +9% 1501-2000 100 1.3 1.4 90 -25% 0.3 80 ≥2001 70 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020F
Source: Institute of Agricultural Economics and Food Economy (IERiGŻ), Eurostat
International Food&Agri Hub Department 21 Pandemic restrictions did not stop the export volumes from Poland to exceed historical M maximums
Poultry meat export change from Poland to the largest importers, 2020 Jan-Aug Value PLN Volume Value PLN and Volume are percentages of the maximum level of theirs in the relevant months from the period 2010-2019
Germany UK
125 116 121 118 113 110 113 109 110 104 105 108 107 103 101 103 98 99 101 94 95 90 84 88 89 86 79 78
I II III IV V VI VII I II III IV V VI VII
Netherlands France 134 123 112 111 107 105 104 103 103 109 96 98 100 91 92 91 94 94 94 85 82 84 83 77 73 65 67 58
I II III IV V VI VII I II III IV V VI VII
Source: Eurostat, Blavatnik School of Government Oxford University
International Food&Agri Hub Department 22 Germany, the UK, Italy and the Netherlands are top Polish meat importers; poultry constitutes M nearly half of Polish meat exports
Poland’s meat products export, USD bn Split of value by types of meat, 2018, %
5.8
Other non-EU 5.0 Poultry
UK 46% 4.2 +16% p.a. 4.2 4.1 4.2 3.6 3.4 Other EU
2.6 2.7 Spain Other prepared 16% or preserved meat 2.1 Czechia 1.9 France 22% 1.5 Beef Netherlands 17% 1.2 Italy Pork 0.7 Germany
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 23 M COVID-19 situation highlights
. Volumes of sales actually turned out to be not worse than pre-COVID in the end of the day, Demand in exports volumes were over their historical maximums place . Disturbances with off-take at the beginning of pandemic were not a result of lack of demand but rather troubles with organization of transportation
. Poultry sector in Poland came into pandemic with record high placements levels and clashed Turmoil on the against off-take disturbances poultry market . As production run in cycles that need to be planned and the producers have limited flexibility the initial turmoil distorted the market for the few following months
. Closures and limitations in domestic and international HoReCa channel broken established Reshuffling of business relations and sales routes, demand from retail chains and traders replaced it however distribution with lower prices offered channels . There was little understanding of end-customer in companys’ value chain, both scale and characteristics – magnitude of changes was hard to forecast for the players
. Integration allowed for amortization of margin disbalances in one value chain by another Integration . Contractation allowed for better prices and secured off-take
International Food&Agri Hub Department 24 Feed production in Poland keep moderate growths over last years – the COVID-19 pandemic F have not affected the volume manufactured
Feed industrial production in Poland, mn t Poultry Cattle Pig Other
11.7 11.4 11.0 11.2 11.2 0.7 0.6 0.6 0.7 0.7 10.1 1.3 1.3 1.2 1.2 9.3 0.6 1.1 0.7 0.9 2.6 0.8 2.5 2.5 2.4 2.5 2.1 1.9
7.0 7.1 6.5 6.8 6.8 6.9 5.9
2015 2016 2017 2018 2019 2020F 2021F
Source: Institute of Agricultural Economics and Food Economy (IERiGŻ), October 2020
International Food&Agri Hub Department 25 Polish feed and pet food export doubled in years 2016-18; export to the EU constitutes 80% of F the international sales of the feed and pet food from Poland
Poland’s feed and pet food products export, USD bn 2.3 Other non-EU Ukraine UK 1.7
+18% p.a. Other EU
1.2 1.2 1.1 1.1 France 0.9 Netherlands 0.8 Czechia 0.7 0.5 0.5 0.4 0.3 0.4 Germany 0.2
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 26 F COVID-19 situation highlights
. Polish feed consumption depends highly on production of meat and it is driving most of Demand dependent fluctuations in the feed market on the meat market . Meat production and consumption have not changed significantly in volume terms, what resulted in stable demand for feed
. In recent months, prices of major feed raw materials – cereals and oilseeds recorded significant gains – current global wheat and maize prices are ~15-20% higher than in June, soybean price Higher costs of raw increased by 33% materials . The price growth is a result of low supply in Europe and the US, and strong demand from China . Global price growth affected Polish market – despite high harvest in 2020, cereal & rapeseed prices in last months increased by 10-20%
. Meat market Despite significant growth of raw materials, feed prices in Poland has been remaining stable in problems inhibit feed last months – still, the prices are 3-5% higher comparing to recent years price growths . Turbulences in the Polish meat industry prevent feed prices from following the cereal & oilseed prices path and further price increases
International Food&Agri Hub Department 27 D Export of dairy products has been growing faster than domestic production
Milk collection in Poland (2010-202, bn liters) Value of dairy products export from Poland (2010-2019, mn EUR)
+3.2% 11.8 12.0 11.3 11.6 10.6 10.8 10.3 +7.0% 2 040 2 077 2 091 9.6 9.6 1 818 8.8 9.0 1 621 1 549 1 473 1 310 1 364 1 135
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020F 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Polish Central Statistical Office, Institute of Agricultural Economics and Food Economy (IERiGŻ)
International Food&Agri Hub Department 28 Poland regained its export value after the 2015-16 drop, the Netherlands are the second D largest importer of Polish dairy products
Poland’s dairy products export, USD bn
2.8 2.7 2.5 +11% 2.5 Other non-EU
2.0 2.0 2.0 1.8 1.9 1.6 1.7 Other EU 1.4 1.1 Italy 1.0 Czechia 0.7 Netherlands
Germany
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Note: EU data do not include UK Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 29 D COVID-19 situation highlights
. Milk production process has been affected only to a small extent by the COVID-19 pandemic – Low impact on milk production takes place in areas with low population density and can be performed without the activities of the contact between the farmers and the drivers milk producers . The increase in milk production was accompanied by the maintenance of a high level of purchases (only few dairies limited the volume bought from milk producers), resulting in maintaining prices at a similar level as in 2019
. The COVID-19 pandemic had a positive impact on the consumption of dairy products in Poland Growth in demand – the increase in demand regarded in particular drinking milk and hard cheese on the domestic . market Restrictions in the HoReCa sector had less impact on pizzerias (heavy users of cheese), which already had their home delivery systems developed
. In the first phase of the pandemic, prices of dairy products sold on foreign markets (skimmed milk Temporary powder, butter in blocks) decreased by nearly ¼ downward impact on export prices . In subsequent months, a recovery in prices was observed, as commodity products have a long shelf life and can be stored – due to significant price fluctuations, the eventual performance results of the companies largely depended on the timing of sales of their products
International Food&Agri Hub Department 30 Cabbage, carrot, tomato and onion are largest vegetable species in terms of volume produced, V tomato and cucumber make 85% of production under cover
Vegetable production in Poland volume, mn t Vegetable production in Poland volume composition
Vegetables under cover Under cover Ground vegetables 5.8 Others 5.6 5.6 16.8% 1.2 5.0 5.0 1.0 1.0 4.7 4.7 25.0% 58.2% Cucumber Tomato 0.9 1.0 0.9 0.8
Ground production
Others Cabbage 22.4% 22.4% 4.6 4.6 4.6 4.1 4.0 3.8 3.9 Cauliflower 5.0%
5.2% Cucumber 17.4% Carrot 5.7% Tomato 7.5% 14.4% Betroot 2014 2015 2016 2017 2018 2019 2020F Onion
Source: Polish Central Statistical Office, Institute of Agricultural Economics and Food Economy (IERiGŻ)
International Food&Agri Hub Department 31 V Germany, the UK and the Netherlands are largest importers of Polish vegetables
Poland’s vegetables and processed vegetable products1 export, USD bn
2.9 +8% p.a. 2.6 Other non-EU 2.5 2.3 Russia 2.3 2.3 2.2 2.2 2.1 UK
1.8 1.9 1.7 Other EU 1.5 Austria 1.2 Romania 1.0 France Czechia Netherlands
Germany
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
1Includes processed (non-fresh) fruit products Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 32 V COVID-19 situation highlights
. At the onset of the COVID-19 outbreak there has been a significant increase in demand for No adverse impact some root vegetables, onions and potatoes, it was driven by the same factors as large to slow perishable purchases of long-term staple products (flour, pasta, rice, etc.) vegetables . High demand sustained later on the market, lower export levels were a result of not a good harvest results in previous year, hence lower availability of ware for sale
. Sudden fall in demand during the first wave of „panic” purchases, followed later by the decrease Troubles with in store visits frequency – hit e.g. tomato, cucumber, lettuce, mushroom perishable vegetables distribution . Difficulties in transportation at the beginning of pandemic – some disruption of delivery to stores (no sales as open markets were closed, too),
. Closures and limitations shaked the business relations patterns that had been in place for a long time, previous presence in diversified channels (HoReCa, retail, direct) allowed for more Shifts in sales swift reaction channels . In some cases it was not possible to re-direct assortment to alternative channels, e.g. tomato or cucambers of worse features used in cheaper fast food would not attract retail clients from the shelf . During pandemic it is difficult to build new relations with retail from the scratch (no meetings, no travel) – clients differentiation from the past is a premium today
International Food&Agri Hub Department 33 Polish potato harvest is highly dependent on the weather conditions, food processing types P are over 20% of potato production in Poland
Potato harvest in Poland, mn t, 2016-20 Potato production in Poland structure, volume, %
9.2 8.9 Food processing 8.7 21.4% Multidirectional 7.1 39.6% 6.5
20.1% Edible packaged 2.0% 5.0% 11.9% Seed production Edible "early" For starch
Potato processing in Poland structure, volume, %
For starch 2016 2017 2018 2019 2020F 34.9%
Yield, dt/ha, 2016-20 For other food 55.6% preparations 1.2% 285 279 251 225 280 8.3% For a drought For the spirit Source: Polish Central Statistical Office, Institute of Agricultural Economics and Food Economy (IERiGŻ)
International Food&Agri Hub Department 34 P Polish potato products export is very differentiated and its majority is exported outside the EU
Poland’s potato products export, USD mn
287
254 Other non-EU 222 +9% p.a. 210 205 Vietnam 187 191 179 Ukraine South Korea 150 Russia 130 121 112 104 94 86 Other EU Netherlands Romania Czechia Hungary
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Note: EU data do not include UK Source: Harvard’s Atlas of Economic Complexity
International Food&Agri Hub Department 35 P COVID-19 situation highlights
. Demand for potato processing products (primarily French fries) was significantly reduced due to Heavy blow from restaurants and canteens closures HoReCa . Alternative sales channels (observed increase in the retail) could not sell the excising stock, as restrictions 80% of the French fries in Poland is sold via HoReCa – this resulted in French fries prices collapse . Demand for chips, potato flakes or potato flour (starch) also decreased due to lower needs of hotels and restaurants and less social occasions, but as HoReCa plays less significant part in sales of these products, the demand shock was less severe
. In the first weeks of the pandemic, the potato processing sector in Poland had high stocks of Discussions on ready products and/or high contracting of the raw material from farmers – the sudden drop in future production demand led to a backlog of stocks in warehouses plans adjustments . As potato production takes place in annually seasonal cycles, adjusting the volume of potato supply to the reduced demand will be possible only after some time – COPA-COGECA calls for limitation of production of industrial potato in 2021-22 season
. The sector had operated largely by contracts – in 2020, for the first time in many years, processing plants could not fully meet the contracts with farmers and purchase all potatoes, while Change of ways of the HoReCa was unable to realize its contracts with processors business relations . Potato processors need to verify internal procurements and sales policies in order to match them to the current market situation
International Food&Agri Hub Department 36 Agenda
. Positioning of Poland as a food production powerhouse
. COVID-19 effects on the food industry in Poland
. Sub-sectors focus
. Closure remarks
International Food&Agri Hub Department 37 Consumption behavior from before the COVID-19 situation remains in place in the case of most of the people Change in frequency of selected food and drink habits since the start of the COVID-19 outbreak per country, More About the same Less I don’t do this May 2020, share of respondents
Cooking from scratch Baking (eg. bread, cakes) Eating with family/other members of Drinking alcohol your household
Ordering groceries online Eating fruit and vegetables Snacking in between meals Taking supplements
Eating treats (eg. ice cream, chocolate) Eating tinned food Eating frozen food Eating pasta/rice
France Germany Italy Poland Spain France Germany Italy Poland Spain France Germany Italy Poland Spain France Germany Italy Poland Spain
Source: Mintel’s Impact of Covid-19 on Food & Drink - Europe - 2020
International Food&Agri Hub Department 38 Changes in consumer behavior in Europe during the COVID-19 were not uniform, sometimes even counterintuitive – understanding of the final consumer cannot be overestimated Change in frequency of selected food and drink habits since the start of the COVID-19 outbreak per country, May 2020, difference betwen share of respondents answering „More” and „Less”
Cooking from scratch Baking (eg. bread, cakes) Eating with family/other members of Drinking alcohol your household
41% 33% 35% 31% 35% 35% 30% 20% 23% 18% 19% 8% 11% 7% -11% -11% -19% -13% -17% -32%
Ordering groceries online Eating fruit and vegetables Snacking in between meals Taking supplements
18% 18% 19% 11% 14% 11% 11% 11% 13% 10% 0% 0% 4% 4% 2% 6% -4% -1% -2% -4%
Eating treats (eg. ice cream, chocolate) Eating tinned food Eating frozen food Eating pasta/rice
18% 18% 21% 12% 8% 14% 8% 0% 6% 0% 1% 0% 1% 0% -2% -3% -2% -3% -4% -4%
France Germany Italy Poland Spain France Germany Italy Poland Spain France Germany Italy Poland Spain France Germany Italy Poland Spain
Source: Mintel’s Impact of Covid-19 on Food & Drink - Europe - 2020
International Food&Agri Hub Department 39 In summary…
. Poland has been developing well as economy and agriculture production house – it is well positioned geographically and has good resource base . The Netherlands are an important partner of Poland in food&agriculture – they are its 3rd largest export market and 2nd largest source of imports, Dutch investors own ca. 4% of reveneus of the largest F&A companies in the country . F&A sector in Poland overall did well during pandemic – exports value kept growing even during the most severe turbulances . Pandemic brought some distribution disturbances at the beginning, required reshuffling of the sales channels and confirmed that differentiation of the off-takers is beneficial to producers . Most of the consumers stick to their behaviors from before the pandemic and modifications to that happen to be counterintuitive sometimes
International Food&Agri Hub Department 40 BNP Paribas Group
Thank you!
BNP Paribas Bank Polska Spółka Akcyjna z siedzibą w Warszawie przy ul. Kasprzaka 2, 01-211 Warszawa, zarejestrowany w rejestrze przedsiębiorców Krajowego Rejestru Sądowego przez Sąd Rejonowy dla m. st. Warszawy w Warszawie, XIII Wydział Gospodarczy Krajowego Rejestru Sądowego, pod nr KRS 0000011571, posiadający NIP 526-10-08-546 oraz kapitał zakładowy w wysokości 147 418 918 zł, w całości wpłacony.