ECONOMY

Time to pitch Greek food

Greek food companies, such as shrimp-farming firm Elliniki Garida, which according to reports is set to open a plant in Kilkis, central Macedonia, will only rebound if they start promoting local products in a well-organized manner, the Foundation for Economic and Industrial Research (IOBE) has concluded.

IOBE?s annual report to the Association of Hellenic Food Industries suggests that the market is facing problems but not to the same extent as other industries.

However, the sector will need to create a strong Greek brand name abroad in order to ensure a return to growth in the face of slumping demand in the domestic market.

In 2011 food industry output shrank by 2.4 percent year-on-year, after a 4.1 decline in 2010.