Ruble weakening may lead to imported dairy products price increase
Consumer prices are estimated to increase by 15% in Russia. Fast dollar and euro growth may result in import products price increase. First of all it may influence alcohol, clothes, fish luxury items and dairy import markets. European cheeses, butter and milk powder will be among the first to get more expensive, predicts Souzmoloko. Current Russian dairy market depends on import because domestic production of commercial milk decreased by 1.5 mln tons in the last years. If dollar and euro continue to grow, it will affect Russian dairy market, predicts Artyom Belov, Souzmoloko Managing Director.
According to his words, dollar and euro rates mainly influence raw materials – cheese, milk powder and butter. In 2013 Russia imported around 10 mln tons of dairy products on milk basis, domestic production of commercial milk totaled 15 mln tons.
Цитаты дня
