Russia Overtakes Switzerland In Chocolate Exports
As Russia-familiar connoisseurs will know, the country manufactures pretty tasty chocolate, mainly as it uses higher cacao amounts – 75% being common – than US or EU brands. As a result, Russia has broken into the world’s top 10 chocolate exporters for the first time, surpassing Switzerland’s famed chocolatiers in the value of chocolate exports for the first time. Russia exported US$839 million worth of chocolate in the year to September 2021, according to UN Comtrade data, cited by the Russian Association of Confectionery Producers. Russia’s chocolate exports were US$20 million more than Switzerland’s U$819 million.
China and countries in the Eurasian Economic Union — Belarus, Armenia, Kazakhstan, and Kyrgyzstan — were the largest buyers of Russian chocolate. Russia exported nearly three times as much chocolate in volume to overtake Switzerland, given the much higher prices commanded by manufacturers in the country.
The main ingredient in chocolate manufacturing is the cocoa bean, with African nations being far and away the world’s largest exporters. Russia is rapidly growing its African trade connections and the development of African sourced beans with Russian production techniques has proved to be a winning recipe in boosting added value exports. Russia produces a wide range of varieties with combinations of Russian sourced dried berries and nuts sourced from within Russia and the EAEU being popular.
Industry figures said Russian confectionery manufacturing is growing strongly, with exports set to rise 19% this year.
Russia Briefing is written by Dezan Shira & Associates. The firm has 28 offices throughout Eurasia, including China, Russia, India, and the ASEAN nations, assisting foreign investors into the Eurasian region. Please contact Maria Kotova at email@example.com for Russian investment advisory or assistance with market intelligence, legal, tax and compliance issues throughout Asia.