Chocolate exports from Russia to China fell by half last year

Published Sep 1, 2023

Tridge summary

Russia experienced a significant decline in chocolate exports to China at the end of 2022, losing almost 56% of export shipments. The executive director of the Askond Confectionery Industry Association believes that the promotion of Russian chocolate and positioning it in the premium segment could help restore export volumes and increase competitiveness. He also notes that the Chinese are willing to pay more for imported confectionery products, presenting an opportunity for Russian manufacturers to enter higher price segments.

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

Original content

Russia lost half of its chocolate exports to China at the end of last year and should restore the figure in 2023 and subsequent years. This was reported by RIA Novosti with reference to Vyacheslav Lashmankin, executive director of the Askond Confectionery Industry Association. “At the end of 2021, Russia became the number one supplier of confectionery products and the number one supplier of chocolate to the Chinese market. However, already 2022, due to all its difficulties, made certain adjustments, and we lost almost 56% of export shipments in this market. These are significant volumes that need to be restored in 2023 and in subsequent years,” Lashmankin said during the conference “Measures to increase the competitiveness of Russian exporters of agricultural products.” He believes that promotion plays a key role in restoring export volumes, as well as increasing the cost of products. Now the Chinese eat Russian chocolate in the economy and mass market segments, giving ...

Source: Milknews