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Russian confectioners may lose up to USD 17 mln on Ukrainian market
15:48, 22 May 2017
Russian confectioners may lose up to USD 17 mln on Ukrainian market

The reason is the Ukraine-imposed anti-damping duty on chocolates and other cocoa-containing products made in Russia

15:48, 22 May 2017

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Russian candy manufacturers could lose from 15 to 17 million dollars on the Ukrainian market, since Kyiv imposed the anti-damping duty on chocolates and other cocoa-containing products made in Russia.

TASS reported that with reference to the Russian Research Centre for Confectionary Market.

‘Russian confectioners have been tapping new markets, so making up for the wasted volumes of production is not something impossible. On the other hand, Ukraine received considerable volumes of supplies; by our estimates, by the end of this year, Russian confectioners could lose some 17 million dollars,’ said Yelizaveta Nikitina, the Centre’s CEO.

In 2016 alone, Russia exported to Ukraine 7.5 thousand tons of chocolate products, totally worth 23 million U.S. dollars. Ukraine is the sixth largest buyer of Russian chocolates; almost 5 percent of Russia’s overall export of chocolate products accrues to Ukraine.

On May 20, 2017, Ukraine imposed the anti-damping duty on Russian-made chocolates. The rate of duty will make 31.33 percent. The respective decision will take effect in late June 2017.

Source: TASS

Related: Ukraine introduces anti-dumping duty on Russian chocolate

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