Page 49 - Minerva Foods | Annual Report 2017
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Commonwealth of Independent States (CIS) – The share held by the Commonwealth of Independent States, represented mostly by Russia, accounted for 7% of exports, 3 p.p. more than in 2016. This result is proof of recovery in Russia, whose share of Company exports rose by 145% from 2016 to 2017.
CEI 7%
23%
Middle East – This region accounted for 23% of the total export revenue, 2% more than in 2016.
Africa – Africa’s share in Min- erva’s exports fell by 5 p.p. In relation to the previous year, accounting for 9% of the Com- pany’s total foreign sales. Cuts consumed in this region (espe- cially front quarter cuts) were redistributed to some of the countries in Asia, such as Hong Kong, and to countries in the Middle East.
Asia
24%
Middle East
Africa 9%
Asia – In 2017, Asia’s share in Company exports fell by 2 p.p., when compared to the previous year, accounting for 24% of total exports. Although China, the chief destination for exports in the region, has seen its share fall to 20%, a significant portion of exports went to Hong Kong.
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