Russia is approaching a record for the export of confectionery

Published 2021년 10월 23일

Tridge summary

Russia is on track to hit a record high in confectionery exports in 2021, with predictions reaching up to 830 thousand tons, according to the Russian Agricultural Bank. This growth is due to the competitive pricing of beet sugar and the concentration of production capacities in the country. The bank also anticipates a 5-6% increase in the production of chocolate and confectionery sugar products in 2021, compared to 2020. The main consumers of Russian confectionery products are China, Belarus, and Kazakhstan, with the Middle East also showing promising markets.

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

Original content

The continuing growth in the production of confectionery products suggests that by the end of 2021 Russia may reach a historical maximum in the export of sweets with an indicator of up to 830 thousand tons, the Russian Agricultural Bank predicts. As an active player in international markets and exporting a wide range of products, Russia in recent months has benefited from the ratio of the domestic price of beet sugar - a product of the Russian agro-industrial complex - and international prices for raw sugar. Unlike the countries of the Near Abroad, the production capacities of large international and domestic companies are concentrated in Russia. Despite the increased purchase prices for sugar, raw materials are still more affordable for Russian processors than for their counterparts in foreign markets. According to the forecast of the Center for Industry Expertise of the Russian Agricultural Bank, the production of chocolate and confectionery sugar products in 2021 may exceed 1.9 ...

Source: Agroxxi