Italian Pasta Exports To Russia Drop by 52%, Driven By Ruble Shift
The value of Italian pasta exports to Russia dropped by 52% last year compared to 2014, and this negative trend has continued during the first half of 2016 (-31%).
The main reason is not related to Russia’s trade embargo, as it does not prohibit the export of Italian pasta - rather a crash in the value of the ruble has made the product more expensive for Russians. Sales down to levels last seen five years ago.
Despite the negative performance, the Italian Association of Confectionary and Pasta Industries (AIDEPI) and the International Pasta Organisation (IPO) point out that Russia remains a ‘strategic’ market with high growth potential. Per capita consumption amounts to 8 kg, compared to 24 kg in Italy.
According to AIDEPI, global sales of Italian pasta have practically doubled in the period 1997-2015.
In Europe, exports to Germany, UK, Netherlands, Belgium and Austria have increased by between 100% and 150%, in Switzerland by 500%, and in France by 72%.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.