Icelandic news translated into English

November 5, 2008

Could run into trouble

Filed under: economy — newsfrettir @ 3:25 pm
Tags: , ,

Native producers of food products of many sorts, hygiene producs and paper, that Morgunblaðið talked to says most have enough ingredients to work with but if the currency market is not set straight could many of the run into troubles next month.

Despite expected drops for Christmas shopping there are ahead months that are essential for the practice of companies that produce their products for native market mainly. Because of the raises in imported products and delays in imports the sales of Icelandic products has increased substantially, as the Morgunblaðið states yesterday, and the increase in some cases tens of percents in the last weeks.

Íslensk-Ameríska is a big party in the market. The company owns and runs the Millan, Ora, Frón and Kexsmiðjuna, and more companies with around 350 persons on the staff. Egill Ágústsson, manager of Íslensk Ameríska, says that mainly it has been successful to gather ingredients for the production companies. “But some suppliers have been hard to deal with and asked us to pay up front but thankfully they are few and the rest have shown us understanding in this situation,” says Egill.

About sales of the products he says the sales have taken a big jump, Icelanders are obviously quick to understand that it is very important to support Icelandic industry. “If we would import these products we would only have a small part of our employees still and would use a whole lot more currency,” says Egill.

(News Article by Jóhann Björnsson)
Original Article in Icelandic

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