Russia boosts chocolate exports 8% in 2024 to $850 mln - Agroexport

MOSCOW. March 25 (Interfax) - Russia exported chocolate products worth nearly $850 million in 2024, up 8% compared to the previous year, the Agroexport center said, citing expert estimates.

This marks the second-highest result after the record year of 2021, when exports amounted to $872 million.

Russian chocolate was supplied to 90 countries last year, Agroexport said. As in the previous two years, the largest buyers were Kazakhstan and Belarus, which together accounted for around 40% of export revenue. "Each of these countries has been increasing imports of Russian confectionery products annually. By the end of last year, chocolate exports from Russia to Kazakhstan grew 3.4%, and to Belarus 9.5%," it said.

China returned to the top three importers last year, increasing the value of its purchases of Russian chocolate products 24%. According to Chinese customs data, Russia ranked fourth in value and first in volume among the main chocolate suppliers to the Chinese market.

The center estimates that Russian exports of chocolate confectionery could exceed $1.6 billion by 2030, assuming growth in global demand and further development of the domestic confectionery industry.

"Chocolate is the main product of Russian confectionery exports, accounting for 47% in 2024. Rising production costs and logistics challenges pose certain risks to Russian supplies. However, markets such as China, the Persian Gulf countries and Southeast Asia remain promising for expanding shipments of Russian chocolate," advisor to the head of Agroexport Alexander Yakuba was quoted as saying.