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Butter imports to Russia are growing
With shipments increasing in countries such as India, Iran and Turkey, and shipments to the UAE also beginning, the market is expected to cool. Since the start of the year, the retail price of butter has increased by more than 25% as of the end of October.
Butter imports to Russia have increased by 20% this year, the Vedomosti newspaper writes, citing Russian Agriculture Minister Oksana Lut. She noted an increase in purchases from friendly countries, especially India, Iran and Turkey. This will help cool and saturate the market and stabilize prices for domestic products.
Rosstat previously reported that from the beginning of the year to the end of October, retail prices for butter increased by more than 25%.
According to Oksana Lut, one of the reasons was a temporary trade imbalance. The growth of household incomes led to an increase in demand for products. She acknowledged that prices for products also increased due to increased costs for logistics and other components.
Honest operator Mark said: "For none of the 24 product groups did the marking affect the cost. The cost of the marking code is fixed and is 50 kopecks, and its contribution to the cost of production does not exceed 1%, which is significantly lower than inflation. Also, for small businesses, operators provide free services for comfortable work through a system called "Honest Sign". "Business", "Marking. Just "and the EDI Light service."
Earlier, the Russian Ministry of Agriculture stated that butter had been supplied to the Russian market in full and that production was expected to increase by the end of 2024. Rosselkhoznadzor reported that as of November 2, 90 tons of products had been imported to Russia from the United Arab Emirates. Earlier, it was reported that 20 tons had been supplied from Turkey.