Negative expectations of food producers associated with the pandemic were not met - Artem Belov
- Statistics show that both real disposable income and gross national product have fallen, but despite this, food consumption has not fallen. We see this in the meat and dairy categories, the expert said. – And this happened due to two factors. First, we did not leave Russia. Traditionally, 10,000 people go abroad for holidays, but this year they all stayed at home for at least an extra two weeks and spent their money on food here.
The second factor, according to Artem Belov, is that the money planned for the failed holidays of Russians was spent again, mostly, on food. That is, the level of food consumption remained quite acceptable.
The fact that when people stayed at home, they cooked their own food also played its role.
- This means that they buy sour cream, butter and other dairy and non-dairy products, - Belov summed up. – As we can see in the first half of the year, demand for these products has grown significantly. In the first half of the year, demand for sour cream and butter increased by 7-11%. The demand for cheeses has also grown significantly. Four months ago, I said that there are risks, but today we can conclude that these risks have not been justified.
However, given the current situation, there are risks in the second half of this year.
- The fourth quarter of 2020 and next year will be the period when deferred risks will be realized, which we discussed a few months ago, - the expert added – - Vacation money is “eaten up”, wages have fallen, and this cannot but affect demand.
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