Olive oil from Tunisia could take up to 10% of the Russian market in a year

Published Oct 3, 2024

Tridge summary

The Anti-Counterfeit Association and the Center for the Development of Advanced Technologies (CRPT) have met with Tunisian business representatives to support their entry into the Russian olive oil market, with expectations to reach up to 10% market share due to reduced imports from traditional suppliers like Italy, Spain, and Greece because of poor harvests and sanctions. The association believes that the Russian labeling system, which combats counterfeit goods, provides opportunities for legal products like Tunisian olive oil. The market share of Tunisian olive oil in Russia was 1.4% in 2023, but with increasing imports and decreased imports from traditional suppliers, a 10% market share is looking plausible.

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

Original content

Moscow. October 3. INTERFAX.RU - Olive oil from Tunisia may take up to 10% of the Russian market in the coming year. This estimate is given in the press release of the Anti-Counterfeit Association following the meeting it organized between the Center for the Development of Advanced Technologies (CRPT, operator of the Honest Sign labeling system) and representatives of Tunisian business. Industry experts believe that achieving such a figure is realistic. The Association and CRPT intend to support Tunisian producers when entering the Russian market. Moreover, the labeling system in effect in Russia, which clears the market of counterfeit goods and frees up niches for legal products, provides new opportunities, the press release says. "According to the Association's estimates, Tunisian olive oils may take up to 10% of the market in the coming year," the press release says. As OleoScope analyst Liliya Varygina told Interfax, Tunisia is in 6th place in olive oil supplies to Russia ...

Source: Interfax