According to data from the General Administration of Customs, the bilateral trade value between China and Russia reached 97.24 billion dollars from January to November in 2018, with an increase of 27.8% year-on-year. The growth rate of bilateral trade ranks first among major trading partners of China. China continues to maintain the position as the largest trading partner of Russia, and Russia is also China's 10th largest trading partner. Russia's exports of confectionery to China rose by $25.8 million (32%) to $105.5 million in the JanuaryNovember period of 2018, said Andre Srepniov, general manager of the Russian Export Center. Srepniov also said that the overall increase in confectionery exports was mainly owing to the growth of chocolate exports (48%), and its export value reached 78.9 million dollars, accounting for threequarters of Russia's confectionery exports to China. As for other products, pastry products made up 18%, mainly waffles and cookies. Candy products accounted for about 7% (candy, caramel, fudge). Since 2016, China has played a key role in the export of Russian confectionery, and from January to February 2018, China has become the major buyer of Russian confectionery, according to data from the Russian Confectionery Market Research Center. Some Russian producers say Russian products are just beginning to gain a foothold in the Chinese market and should enlarge market shares in the next one to three years. Besides chocolate, pralines, waffles and biscuits are also popular in China so far. According to the introduction, the current Russian production enterprises began independent negotiation with China's large-scale food retail chains on direct supply matters. In 2018, for example, Russia's United Confectionery Group successfully increased its exports to China by signing seven contracts with retail chains that together cover about 11,000 retail stores in China.
RUSSIAN CONFECTIONERY POPULAR IN THE CHINESE MARKET, EXPORT VOLUME REACHED 105.5 MILLION U.S. DOLLARS!
Post Time:2019-09-04
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