According to Alexey Kudrin, Vice prime-minister and Minister of Finance, Russian GDP should gain 6-7% annually. Last year GDP saw the 4% growth and reached RUB 44.49trn. The forecast of the Ministry of Economic Development expects GDP growth 2011 to reach 4.2%, 2012 – 3.9%, 2013 – 4.5%. In January 2011 The Ministry of Economic Development estimated the annualized economy growth at 4.3%.
Source: http://top.rbc.ru/economics/
Economists believe that 2011 inflation in Russia will become even more dependent on food prices. After Rosstat (Russia’s State Statistics Office) studied Russian expenditure patterns, it revised the inflation calculation basis. The share of food in the expenditures structure has risen from 37,97% to 38,5%. The increase is basically due to a dramatic price growth on cereals, fruit and vegetables, which took place at the end of 2010.
Source: http://top.rbc.ru/economics/
With a total turnover in 2010 of 7.1 trillion rubles ($239 billion), the retail food market is growing at 13 percent — more than twice the rate of the economy as a whole — and leading retailers are seeing growth of 30 to 40 percent. However, the main driver for food retail growth is the growth of prices.
The X5 Retail Group, the largest food retailer, plans to open 540 new stores all over the country. Magnit, the supermarket chain with the greatest geographic coverage, is to open 800 convenience stores and 55 hypermarkets. Discount chain Dixy hopes to open 150 convenience stores in Moscow and the regions, and intends to attract customers with a new logo, more efficient operations, sales and discount cards.
This expansion will build on last year’s boom, in which X5 added 1097 new stores, including 660 stores via its acquisition of competitor Kopeika. Magnit opened 827 stores, compared with 646 openings in 2009. Dixy had 646 stores open in the end of 2010, up from 623 open the previous year. With last week’s purchase of rival Victoria Group supermarket chain, Dixy will own 901 stores. Sedmoi Kontinent had 146 stores at the end of the year mostly in and around Moscow, compared with 139 a year earlier.
X5’s net revenue for 2010 was 341.6 billion rubles ($11.2 billion). Magnit earned 7.1 billion rubles ($241 million) for the same period. But the market is highly fragmented, with none of the major players having more than 4 percent share, according to UralSib.
Source: www.themoscowtimes.com
7-11 февраля Москва, Экспоцентр
ПродЭкспо 2011 18-я Международная выставка продуктов питания, напитков и сырья для их производства
Организатор: Экспоцентр
7-11 February Moscow, ExpoCentre
PRODEXPO 2011 The 18th International Exhibition for Food and Beverages Industry, Raw Products
Organized by: Expocentre
17-19 декабря Сочи, Выставочный центр “Жемчужина”
Кубань 2010 Оптово-розничная выставка-ярмарка всех видов продовольственных товаров и сырья для их производства.
Организатор: ЗАО “СОУД-Сочинские выставки”
17-19 December Sochi, Exhibition Centre Zhemchuzhina
Kuban 2010 Wholesale and retail trade expo of food commodities, beverages and ingredients
Organized by: CJSC SOUD-Sochi Exhibitions, UFI Member
The European Union confirmed on Thursday that Russia could join the WTO within the next 12 months, following agreement to phase out Russian export tariffs on raw materials.
Russia’s willingness to phase out export duties on raw materials such as timber — which drive up the cost of inputs for European manufacturers such as the Nordic timber and paper industries — removes a European veto on Russia’s accession.
There are other hurdles remaining to tackle before accession, such as state payments to farmers and ceilings on beef imports entering the country at low tariffs. At some point Russia and other WTO members also will have to address Georgia’s objections to Russian membership of the WTO.
Source: www.themoscowtimes.com
X5 Retail Group has opened the first of its economy-class hypermarkets under the Pyaterochka-Maxi brand. Pyaterochka-Maxi is focussed on sales of food and non-food items to retail and wholesale customers. The main competitive advantage of Pyaterochka-Maxi is price leadership. It will offer the best prices by monitoring all competitors and meeting or beating them on every item. Wholesale bulk purchases will be entitled to an additional volume discount of 10-15%.
CEO Lev Khasis said: “This new economy-class hypermarket format will enable X5 to enter new markets and reach low income customers that are under-served by the competition.”
Source: uk.ibtimes.com
Owners of kiosks and other street businesses in Moscow won a respite Tuesday when the city government signed off on a draft order to regulate mobile, small-scale retail businesses.
Following an enthusiastic campaign to rid the city’s streets of vendors, Moscow officials are blushing after it was discovered that no formal order to remove the kiosks was ever issued.
As it turned out, the final document was relatively innocuous. The order requires the city’s architecture committee to develop a new plan for the placement of small-scale retail businesses “taking into consideration the transportation situation, residents’ needs and convenience of the location.” The plan should be completed by May 1, 2011.
Source: www.themoscowtimes.com