Marios Constantinou: The shift to more sustainable practices is intensifying, possible synergies in the cheese-making sector

The ongoing pending issue with halloumi is creating enormous uncertainty and negative consequences for the cheese-making industry and beyond, according to Marios Constantinou, Managing Director at Charalambides Christis LTD.

In an interview for the "IN Business Forecasting 2025" series, Constantinou said that as the "white gold" of Cyprus, halloumi should be treated as it deserves and not remain in limbo.

He also considers reducing the cost of electricity essential, noting that its high cost discourages Cypriot business.

Asked about the main trends in the dairy and cheese making sector, he mentioned the shift to more sustainable practices and the increased demand for high-quality and nutritionally valuable products with environmental responsibility.

By preserving the principles and values ​​that have given it a leading position in its sector, Charalambides Christis, will speed up its sustainable development effort and continue to meet ESG objectives, said Constantinou.

How do you think the Cypriot economy will perform in the new year? How optimistic are you about its prospects?

The international situation is extremely fluid at the moment, awaiting, among other things, any changes in US economic policy, so no one can make safe predictions for 2025.

Nevertheless, I believe that the Cypriot economy is sufficiently shielded and will therefore continue to be stable, without noticeable turbulence.

Exports and tourism are two important pillars for Cyprus, the indicators so far documenting their robustness.

This is also confirmed by the reports of the Ministry of Finance, while just in October, the International Monetary Fund upgraded its forecasts for the growth rate of Cyprus in 2024, to 3.3% from 2.7% which was the forecast in April. It is clear, therefore, that there is a moderate optimism.

High energy costs discourage Cypriot business

What do you see as the biggest threats to our country's economy? What should be considered in order to ensure its growth trajectory?

The cost of raw materials and energy are critical factors that have a decisive impact. Our wider region is in a particularly unstable situation with the risk of a general conflagration not disappearing.

You understand that if the situation gets out of hand, the consequences will be noticeable. Cyprus must pay close attention to its relations with the US and the EU and, at the same time, it must closely monitor the trade conditions with China.

At the same time, it is important to ensure the competitiveness of our products, to continue investing in sustainable practices and to be flexible. Innovation and infrastructure remain important components of the resilience of our economy.

What should Cyprus do to become an even more attractive destination for foreign investments? And how important, in your opinion, are they for its economy?

Cyprus needs to continue promoting a stable attractive legal and tax framework, improve infrastructure and strengthen investments in technologies and sustainable development.

Digital transformation, traffic and energy are areas in which we must work intensively. Reducing the cost of electricity is also essential, as its high cost discourages Cypriot business.

Uncertainty about halloumi - Safeguarding the export weapon

Regarding your company's sector of activity, how do you estimate it will develop in 2025? Are there any issues that concern you?

We operate in an extremely sensitive and important sector, producing products of high nutritional and taste value and having the health and well-being of the consumer at the centre of our actions.

Charalambides Christis is an integral part and successor of the great Cypriot dairy tradition, with an emphasis on timeless, but also modern quality and nutritional characteristics and values, and so we will continue.

Focusing on the coming year, I consider it my duty to say that the ongoing pending issue with halloumi is creating enormous uncertainty throughout the industry with many negative consequences.

Next, we all say that halloumi is the "white gold" of Cyprus, so we should immediately treat it as it deserves.

In such a difficult situation, our main export weapon cannot remain in limbo!

What are the biggest trends/changes you expect to occur in your sector and what are the most significant challenges?

The main trends include the intensification of the shift to more sustainable practices and the increased demand for high-quality and nutritionally valuable products with environmental responsibility.

The challenge, and indeed an ongoing one, is the cost of adapting to these standards and the need for new investments in innovative processes that ensure our competitiveness in the market.

Synergies in cheese making and the challenges of 2025

A strong trend that seems to be taking hold in Cypriot business is that of acquisitions and mergers. Will we see it strongly in your sector as well?

In a general context, I would note that acquisitions and mergers are a practice that enhances the resilience and flexibility of businesses in Cyprus and beyond. In particular, I believe that we may see synergies in our industry, in the field of cheese making.

What can we expect in terms of your organization's plans and development strategy in 2025? What moves do you intend to make in this direction?

Our leadership position as Charalambides Christis stems, among other things, from the timeless and consistent preservation of a series of values ​​and principles.

Our strategies always remain oriented towards top quality elements, combined with innovation and the continuous satisfaction of consumer needs. This is what our consumer appreciates and enjoys, the holistic quality of the products we produce and import.

2025 is a year in which we will continue this way, simultaneously accelerating our path towards sustainable development and continuing to fulfil ESG goals.

Reducing our energy footprint, strengthening our relationships with producers and consumers, and investing in new technologies will continue to be key priorities in the coming year.

We are aiming for a complete transformation within the next five years and every day, we come closer to completing the goal.