China increased imports of chocolate from Russia to $55.4 million in 2023

Published Jan 26, 2024

Tridge summary

In 2023, China's import of chocolate and other cocoa products from Russia surged to $55.459 million, marking a 1.4 times increase from the previous year. The physical supply also saw a threefold rise to 33 thousand tons. The Association of Confectionery Industry Enterprises credits this growth to strategic product positioning, stronger trade relations, and product adaptation to Chinese consumer preferences. The trend is expected to continue, driven by government efforts to promote Russian confectionery products in Southeast Asian markets, especially China.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Moscow. January 26. INTERFAX.RU - China imported $55.459 million worth of chocolate and other products containing cocoa from the Russian Federation in 2023, which is 1.4 times more than in 2022 ($39.4 million). This was reported in the materials of the State Customs Administration (SCU) of the People's Republic of China. According to the Association of Confectionery Industry Enterprises (ASKOND), in physical terms, supplies increased three times to 33 thousand tons compared to 11 thousand tons a year earlier. “The Chinese market is returning to its position as one of the most attractive and fastest-growing markets for the export of Russian chocolate and chocolate confectionery products. The explosive growth in supply volumes was partly a consequence of the low base effect of the previous year, but the main reasons for the success of Russian confectionery manufacturers are focused and painstaking work on positioning products on the Chinese market, strengthening trade ties with ...

Source: Interfax