Russia is transforming its needs and styles. Russians are demanding for international tastes so Thai food-makers have a great opportunity to cash in by supplying products that are in short supply.
The senior officials said on September 29, 2007 that due to a rising demand for imported goods in Russia and growing purchasing power of its citizens, food exporters in Thailand are being lured to further penetrate into Russia, according to news reported by FreshPlaza.
The FreshPlaza report also mentioned a seminar by Kasetsart University, where Suwiphan Ditsayamonthon, the Senior Director General of the Ministry of Commerce’s Foreign Marketing Development Bureau, highlighted the fact that despite higher purchasing power of Russians, only 44% of the food products displayed in the market could makes into the Russian market. So the Thai food exporters were urged to penetrate further.
In Russia’s food market, imported foodstuffs occupy a substantial chunk, as much as 80% in certain categories. Greater disposable income and a newfound trend of eating out in premium restaurants has also created a demand for high quality food, like imported marbled beef, beef fillets, lamb and veal. At present, demand exceeds the supply in imported meats.
Demand is also growing for processed milk products, preservative-free yogurts, milk desserts and puddings. Experts forecasted that there would be no stopping in the growing demand for dairy and milk products. The surging demand is credited to consumption growth, regional market expansion and introduction of innovative products like vitamin-enriched, low fat and preservative-free dairy products.
The restaurant market of Russian is also growing. Consumer incomes are surging and tourism industry is expanding, thus giving a fillip to the sector. For mid-level restaurants, sales growth per year is 30%. The high-end restaurants too are doing great business, thanks to the high demand for imported wine, meat, dairy and specialty seafood products.
Generally speaking, Russian industry’s standards are fairly specific and the regulations are unique. Frequent changes to the standards and legal requirements are common. But as long as international quality and safety regulations are maintained, a local partner will not face difficulty in acquiring valid entry for food and beverage products into the country.
A RNCOS research analyst opined, “A high potential market for Thai products like processed seafood, shrimp, fruit, meat, milk products, fruit juice, dried fruit, rubber and rice may exist in Russia. With certain products in low supply in Russia, there is great opportunity for Thai food exporters to respond in time by filling the gap”.
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