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NewsRescue
Russian chocolate exports increased 9% year on year in January-September, making the country the 11th largest provider globally, according to RIA Novosti, citing data from UN Comtrade and the national association of confectionery makers (Askond).
According to the research, 170,000 tonnes of Russian chocolate goods were exported globally in the first nine months of 2023, with a total value of more than $535 million.
“These figures confirm that export remains one of the key areas of development for the Russian confectionery industry,” Askond was quoted as saying.
Data showed that Germany remained the world’s top chocolate exporter, with sales amounting to $3.84 billion in the reporting period, up 13% from last year. Belgium was second on the list and saw chocolate exports grow by 1% to $1.77 billion. It was followed by the Netherlands, which boosted exports by 18% over the year, to $1.66 billion. Poland, Canada, Italy, Malaysia, the US, the UK, and Switzerland rounded out the top ten exporters of confectionary worldwide.
The report comes as cocoa prices soared to their highest level in nearly half a century this week, amid declining global supply and high demand for chocolate.
Analysts warn that more price increases are inevitable as a result of the El Nino weather phenomena, which is projected to dry up West Africa in the coming months. Supply problems are additionally worsened by rising global demand for cocoa beans, with recent increases in processing in Europe, Brazil, and Cote d’Ivoire (Ivory Coast).
According to the International Cocoa Organisation (ICCO), the world market would experience a cocoa shortfall of 116,000 metric tonnes from October 2022 to September 2023.
