The Russian bread and bakery market could amount to 1.13 trillion rubles in 2024 — expert

Published 2024년 9월 26일

Tridge summary

The baking industry in Russia accounts for around 11% of the entire food industry and is projected to reach 1.13 trillion rubles in sales by the end of 2024. The market for bread and bakery products is expected to exceed 1 trillion rubles by the end of 2023, with a projected volume of 11.4 million tons. The President of the Russian Guild of Bakers and Confectioners, Yuri Katsnelson, noted that the baking industry is crucial for food security in Russia. He also pointed out that the retail prices for bread and bakery products have not increased beyond inflation rates in 2023 and 2024. Meanwhile, the Russian Union of Flour and Cereals Enterprises anticipates that flour exports could reach 1.5 million tons by the end of 2024 and 1.7 million tons by 2030.

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

Original content

The baking industry accounts for about 11% of the total volume of the entire food industry in the country The volume of sales of bread and bakery products in Russia in the first half of 2024 amounted to 522 billion rubles, and by the end of the year, 1.13 trillion rubles are expected. This was announced by the President of the Russian Guild of Bakers and Confectioners Yuri Katsnelson at the XVI Congress of Flour-Milling and Cereal Enterprises of Russia. According to the guild's estimates, the bread and bakery products market in the Russian Federation by the end of 2023 amounted to 11.4 million tons, in monetary terms it exceeded 1 trillion rubles. Katsnelson noted that enterprises of the flour-milling and cereal industry, as well as baking entities, are the basis for ensuring food security in Russia. "Baking is the leading sector of the agro-industrial complex and provides about 11% of the total volume of the entire food industry," the expert emphasized. In addition, he pointed ...

Source: Specagro