CRPT: in 2023, prices for dairy products remained stable

Sour Cream

Dairy

Russia

Market & Price Trends

Published Feb 23, 2024

Tridge summary

In Q4 2023, dairy product prices in Russia remained largely stable with a slight increase of 1% for some products, while powdered milk, dry cream, and bulk cheese saw a decrease in prices by 9% and 5%. Over 7.4 billion liters of dairy products were purchased by Russians in the past year, with a 5% sales increase in the second half of the year, led by the Vologda region. The National Union of Milk Producers reported a 0.7% average increase in dairy product prices in December, while food product prices increased by 1.7%. The Ministry of Agriculture has committed to ensuring the availability of dairy products at reasonable prices.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Prices for dairy products in Russia remained largely stable in the fourth quarter of 2023 compared to the previous year, reported the Center for the Development of Advanced Technologies (CRPT - operator of the Honest Sign labeling system). The center's analysts noted that prices for sour cream, yogurt, condensed milk and cream, and yogurt remained unchanged over the year. Some dairy products increased in price slightly - by 1%, including fermented baked milk, kefir, pasteurized and ultra-pasteurized milk. Powdered milk, dry cream and bulk cheese fell in price by 9% and 5%, respectively. According to the CRPT, over the past year, Russians bought more than 7.4 billion liters of dairy products. Sales in the second half of the year increased by 5% compared to the first. Retail sales remain the main sales channel, with remote sales increasing by 31% during this time. Analysts from Chestny Znak also compiled a rating of regions by dairy product consumption. The leading “dairy” region ...

Source: AgroInvestor