Russia seeks to double annual export of confectionery products by 2024
Russian Ministry of Agriculture has held a meeting dedicated to the development of confectionery export by 2024. The event was attended by representatives of the Ministry of Agriculture, leading manufacturers and industry unions.
During the meeting, the participants noted that Russian confectionery industry demonstrates steady growth rates. At the end of last year, exports in value terms exceeded $1.1 billion compared to $1 billion in 2017. At the same time, by 2024, deliveries should increase to the level of $2.4 billion a year due to an increase in exports by the largest representatives of the industry.
The main foreign buyers of Russian confectionery products are still the EEU countries (more than 50% of all deliveries) and the CIS, a significant amount falls on China and the European market, primarily to Germany. According to the forecast, in 2019, shipments should grow by almost 20% and exceed $1.3 billion.
During the meeting, the Ministry of Agriculture called on the largest representatives of the confectionery industry to actively engage in the task of achieving the export target by 2024. For its part, the Ministry will develop necessary forms of state support, taking into account the proposals of market participants.