Value Of Organic Food Industry Rises To US$100mn In 2008

According to figures released by the Czech Republic-based organic food marketing agency Green Marketing, consumption of organic food reached CZK1.8bn (US$100mn) in 2008, marking a 40% year-on-year (y-o-y) increase. Based on BMI's research, organic food accounted for less than 1% of total food consumption in 2008. In view of our forecasts that the Czech Republic's GDP will contract by 3.1% in 2009 and food consumption will slide down by 0.4% to CZK208bn as economic weakness forces a recalibration in consumer spending, we believe that the growth of the organic food industry is likely to cool this year.

To read the full article, please choose one of the following options: