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Russian chocolate to unwrap sweet success over Western exports in 3-5 years, say experts

It is reported that by the end of 2021, Russia had supplied over 324,000 tonnes of chocolate to world markets, which is 9.3 times more than in 2002

MOSCOW, July 26. /TASS/. Experts from the Russian Agricultural Bank expect Russia to beat France, Italy, and Canada in chocolate exports within 3-5 years.

"According to the Russian Agricultural Bank’s estimates, since 2002, the share of Russian chocolate in deliveries to world markets has increased from 1% to a record value of 4.9%. Over the past 20 years, Russia has reached 8th place in terms of chocolate supplies from 19th in 2002. This is the highest growth rate among the top 20 chocolate exporter countries compared to 2002. According to Russian Agricultural Bank analysts, the country can overtake France, Italy, and Canada in global chocolate exports within the next three to five years," the statement said.

The bank adds that, by the end of 2021, Russia had supplied over 324,000 tonnes of chocolate to world markets, which is 9.3 times more than in 2002. At the same time, in 2020, Russia left the United States behind in chocolate exports for the first time, supplying 295,700 tonnes to foreign markets against 278,600 tonnes. Russia has also overtaken previously prominent players in the chocolate export market, namely, the UK (consistently since 2017) and Ukraine (since 2013).

The experts noted that Kazakhstan and China are the biggest markets for the consumption of these products from Russia, accounting for more than 30% of total chocolate exports by volume.

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