You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Romania's Golden Foods Snacks to start exports to Poland

Romania's Golden Foods Snacks to start exports to Poland Elmas nuts Source: Golden Foods

BUCHAREST (Romania), May 23 (SeeNews) - Romanian producer of seeds, nuts and dried fruits Golden Foods Snacks plans to start exporting nuts and seeds to Poland next month, it said.

The expansion is part of the shareholders' development plan through consolidation of exports in Central European markets, Golden Foods said in a statement on Friday.

The entry into the Polish market will be achieved through a strategic partnership. With this new market, the share of exports in Golden Foods' total sales revenue will increase by 4% to 12% in the coming years.

According to the company, the entire market for hazelnuts and seeds in Poland is estimated at some 350 million euro ($371 million) per year.

In April, Golden Foods said that it plans to increase the current number of its customers five times by the end of 2022, after signing an agreement with PepsiCo Romania for the distribution of some of PepsiCo's products in January.

Golden Foods Snacks was established in 2009. The company swung to a 1.07 million lei ($230,999/ 216,283 euro) net loss in 2021, from a 11,978 lei profit in 2020, according to the latest data available from the finance ministry. Its turnover fell to 37.6 million lei in 2021 from 43.6 million lei in the previous year.

(1 euro=4.9472 lei)

Share this story
SeeNews in Brief

View our Newsletters