Page 72 - Russia OUTLOOK 2024

raising its prices for coffee by 15% and confectionery by 8%, and for breakfast cereals up to 9.5%; Lyubyatovo will raise the price for cookies by 6%; Chocolate from Ritter Sport and Ferrero Rocher will rise in price by 7-14%. The wholesale price of rice from Agroimport will climb by 22%, according to the publication lists, The Bell reports.
For a number of groups the reason is the global situation: coffee and cocoa are becoming more expensive due to global warming, whereas the price of rice is climbing due to crop failure in India and Thailand, which have stopped exporting. Russian rice farming meets only 50-70% of domestic needs.
The most important thing is that transportation and logistics have become more expensive. Lyubyatovo has noted an increase in transport costs of 41.5%; Multon Partners costs have risen by 37%. The data from retail chains is confirmed by carriers: on the main routes (Moscow-St. Petersburg, Moscow-Krasnodar), the price of a truck flight has increased by 50%, to RUB70,000-110,000.
Logistics companies had to raise staff salaries by more than 50%, the cost of renting warehouses by 40%, and double the cost of updating their fleet, market participants told Kommersant. There is a pre-New Year price peak, but that’s not the point – no one expects a rollback to 2022 tariffs.
A new eco-friendly law will also increase the cost of packaging by 15% in 2024.
72 Russia OUTLOOK 2024 www.intellinews.com