The weakening ruble plays into the hands of domestic producers - Mikhail Mishchenko
- This is the whole situation regarding the impact of the pandemic on the life of the domestic dairy market. The falling ruble has played into the hands of Russian producers, the expert said in a comment.
The second important point, according to Mikhail Mishchenko – is an increase in demand.
- This is due to the fact that, in the summer, people usually spend their savings on travel, but due to the fact that this year the consumers who generates demand for goods remained in Russia, they began to spend their money on Russian goods, which is why the demand for these products has increased. This has significantly supported domestic producers, as well as the tourism industry, since the latter is primarily food, and food can be domestic. As a result, these two factors have had a positive effect on the Russian market, he explained.
We will remind that the Dairy Index DIA on August 24, 2020 was 27.42 rubles/kg (excluding VAT, fat and protein level - 3.6% and 3.0% respectively), which is 0.04% lower than last week and 6.40% higher than in August 2019. The key factor in the decline was the import price, which fell due to lower prices for some exchange-traded dairy products, while prices for raw milk in Russian regions continued to grow according to the crowdsourcing application Index DIA.
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