Chocolate production has increased in the Russian Federation

Market & Price Trends
Published Apr 16, 2024

Tridge summary

The Russian confectionery market, currently the fifth largest in the world, has experienced notable growth in the early part of the year, with an 8.9% increase in the production of chocolate and cocoa products and a 9.2% rise in overall confectionery production. This growth is driven by an increase in export shipments and stable domestic demand. According to the Association of Confectionery Industry Enterprises (ASKOND), chocolate exports have grown by more than 5%, and there has been a 2.7% increase in per capita confectionery consumption in Russia, the first such rise in five years. These developments highlight the industry's strong performance and its significant position in the global confectionery market.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Russian confectionery market is the fifth largest in the world In January-February of this year, Russian enterprises produced 161.7 thousand tons of chocolate and packaged food products containing cocoa, which is 8.9% more than in the same period in 2023. This was reported by the Ministry of Agriculture. In general, the production of confectionery products at the beginning of the year increased by 9.2%, to 667.1 thousand tons, including sugar products without cocoa, including white chocolate, by 15%, to 120.2 thousand tons. Executive Director of the Association of Confectionery Industry Enterprises "ASKOND" Vyacheslav Lashmankin names two main factors for production growth: an increase in export shipments and stable demand in the domestic market. Thus, according to the association, as of the end of March, supplies of domestic chocolate abroad increased by more than 5% compared to the level of the same period in 2023. This had a positive impact on the dynamics of production of ...
Source: Specagro
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