Tridge summary
The US Department of Agriculture (USDA) has identified Russia as the largest consumer market in Europe, with potential opportunities for US suppliers despite existing sanctions. The Russian retail market grew by 1.6% in 2019, reaching 33.5 trillion rubles, with the food retail segment growing by 1.4% to 16.1 trillion rubles. However, 80% of food products in Russian retail outlets are domestically produced. The USDA points out that Russian consumers are shifting towards natural and convenient food options, which could benefit US suppliers. Currently, the US supplies a variety of products to Russia, including tomato paste, nuts, dried cranberries, prepared food products, sauces, wine, rice, and food for cats and dogs. However, the US faces competition from local manufacturers and those in China and Europe, and may also encounter a negative perception from Russian retailers towards US products.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In the document of the department, with the text of which RT got acquainted, it is noted that Russia is the largest consumer market in Europe. According to Russian experts, manufacturers in the United States are aware that the sanctions policy has led to losses for business and are looking for opportunities to cooperate with Moscow, despite the existing sanctions. “The growth of the Russian food processing and retail market is opening up attractive niche opportunities for US suppliers,” the USDA Foreign Agriculture Service said in a report. RT got acquainted with the text of the document. For example, American experts indicated that in 2019, the retail trade turnover in Russia, according to Rosstat, reached 33.5 trillion rubles, which is 1.6% higher than the level of 2018. Meanwhile, the turnover in the direct food retail segment slightly exceeded 16.1 trillion rubles, which, in turn, is 1.4% more than a year earlier. At the same time, American analysts noted that currently 80% of ...
Source: Dairy
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