Sales growth for the food sector in Russia

 The embargo on European products and the decline in the Russian currency causes an increase in sales.

The embargo has pushed up prices of certain meats (pork, poultry) as well as fruit and vegetables, despite a well-stocked market. These increases pull up the income distribution brands.

Thus, X5 Retail Group, the second largest distributor of products alimentaries in Russia revises its growth forecasts, and was passed + 10 / + 12% to 17/19 %. The low-cost chain Pyaterochka recorded an increase in attendance . Magnit , the # 1 distributor in Russia , announced strong results for the third quarter and also revised upwards its growth forecast for this year.

The decline of the ruble , which has lost 1/4 of its value since the start of the year against the dollar , makes imports more expensive but boost Russian companies that have not resorted to loans and currency makes exports more competitive.

source : daily mail co uk