Author Archives: CrispConsulting

Customs union reduces tariffs for some products

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23 August new import customs duties were introduced, they were changed because of Russia’s accession to the WTO. The first change concerns only 10% of tariffs – mostly duties on meat and dairy products, on fruit and vegetables, as well as cars.

Russia is one of the largest importers of apples and after accession to the WTO import duties on these fruits were significantly reduced. The duty on apples will be 0.06 euro per 1 kg. It will be applied for one year.

At the same time, Russia’s entry into the WTO will not change the import duty on pears, it will remain 10%. In 2015 it will be reduced by 5%.

Import duties on apricots, cherries, plums will remain 5%, and on strawberry – 10%. Also, the zero import duty on nectarines, peaches, kiwi will be kept.

Russia’s accession to the WTO will not change duties on bananas, they will remain 5%, but not less than 0.02 euro per 1 kg. The duty on orange , grapefruit and other citrus fruits will also remain the same – 5%, but not less than 0.02 euro per 1 kg, the same is for mandarins, clementines, and others (5%, but not less than 0.03 euro).

At the same time the duty on lemons and limes will decrease from 5%, but not less than 0.035 euro, up to 5%, but not less than 0.02 euro per 1 kg.

Source: www.retailer.ru

actualcomments.ru

InterFood Novosibirsk

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October 30 – November 02, 2012

IEC Novosibirsk Expocentre, Novosibirsk, Russia

 

Exhibition of foodstuffs, equipment, technologies for food industry, materials for package, label, tare production, logistics and transportation services.

InterFood Novosibirsk (formerly FoodSib) features a wide range of food and drink products, targeted at the Siberian food market.  Siberia makes up 56% of Russia, making InterFood Novosibirsk an important meeting place for companies engaged in the Russian market.

InterFood Novosibirsk has proved an effective forum for promoting new products, discovering more about the local market and meeting professionals within the industry, including producers, distributors, wholesalers, retailers and restaurateurs.

InterFood Novosibirsk hosts companies from Russia and abroad, offering products for the food and drink market, as well as food ingredients and food processing equipment and machinery.

You can find more information here: http://www.foodsib.sibfair.ru/eng/ 

Sergey Galitsky will spend € 350 million for vegetables

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Sergey Galitsky, founder of the second largest Russian retail network “Magnit”, is planning to invest € 350 million in the agricultural development. He said that this is a key point to develop the network own agricultural production.

“We decided to grow local Kuban vegetables for our stores. Now we have the crop of cucumbers and tomatoes from 40 hectares, and for the next two years we plan to expand the area to 120 hectares”, – Sergey Galitsky said.

It will be one of the biggest agricultural complexes that produce vegetables in Europe.

The fact that “Magnit” would invest 8 billion rubles in the construction of the greenhouse complex to grow tomatoes and cucumbers in Dinsky district of Krasnodar region was reported in 2010. Then the experts believed that it would be difficult for the retail network to find consolidated suppliers of fresh vegetables which could supply all vegetables for the company.

Source: www.fruitnews.ru

X5 may not reach expected results

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Sales growth of the biggest Russian retailer X5 Retail Group would not reach previously expected 15 per cent, Kieran Balfe, chief financial officer, warned investors on a conference call. Earlier Balfe said that the growth rate would be about 15 per cent for this year – but for the first half of the year X5 revenues rose by only 7.2 per cent.

The sales in hypermarkets fell by 14 percent in July. Net profit of the retailer fell by 6.2 percent to $ 68.9 million. EBITDA decreased by 1.6 percent to $ 280.3 million.

Despite the fact that the X5 Retail these results are still not bad, they do not seem so so good if compared to the indicators of the Magnet, X5 main competitor, according to VTB Capital analysts. Magnit EBITDA profitability reached 10.1 percent in the second quarter.

Source: www.retailer.ru

 

Russian Retail Sales Slow To 18-Month Low As Inflation Bites

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Russian retail sales grew in July at the weakest pace in 18 months after faster inflation curbed consumer purchasing power, threatening to undercut a mainstay of the country’s economic growth this year.

Receipts at merchants rose 5.1 percent from a year earlier, slowing from June’s 6.9 percent to the weakest pace since January 2011, the Federal Statistics Service in Moscow said in an e-mailed statement today. That missed all 15 estimates in a Bloomberg survey, which forecast 6.2 percent growth.

Russian real wages grew 10.2 percent in July from a year earlier, the service said. That matched the downwardly revised figure for a month earlier and missed economist forecast for 11.2 percent growth. Retail sales from a month earlier advanced 1.6 percent, also missing the median estimate of 2.6 percent.

“The softening in retail sales was to a large extent concentrated in food sales, likely a consequence of rising food inflation,” Vladimir Kolychev, head of research at Societe Generale SA’s OAO Rosbank (ROSB) unit in Moscow, said by e-mail. The expansion in non-food categories was “still robust” at 8.6 percent, he said.

Unemployment remained at 5.4 percent for a third month, the lowest level since at least 1999. Economists had forecast an increase to 5.5 percent, according to the median of 11 estimates in a Bloomberg survey.

“The steady unemployment rate is the only bright spot in the data, generally suggesting that domestic demand is clearly losing steam,” Dmitry Polevoy, chief economist at ING Groep NV in Moscow, said in a note. “With food inflation clearly accelerating, real wage growth easing and retail lending also losing steam, both food and non-food retail sales are set to weaken further in the second half.”

Source: www.bloomberg.com

Russian Fish Processing To Adopt International Quality Standards

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Expected Russia’s joining the WTO cannot but affect its fishing industry. However, this will not force any significant changes into operation of coastal fishing companies, since they deliver their whole catch to domestic ports for its further processing or sale in domestic market. But for those Russian fishing companies that export their products to European countries the changes associated with entry into the WTO are crucial, and they shall prepare themselves to many new things.

It’s claimed that joining the WTO will enable Russian fishing companies to trade their products on equal terms with other EU countries. But the problem is that there are concerns related to lower competitiveness of domestic fish products since not all Russian products meet high European standards. Closely working with Russian fish suppliers that have relevant European certificates, I know that at many other enterprises certain EU regulations are not met. Many companies are not ready to introduce and adopt international standards, so it will take some time till they will be allowed to enter the European market with their products.

It is also worth noting that in order to gain from joining the WTO, Russian enterprises should increase volumes of deeply processed products, which will provide the biggest added value.

Source: www.superocean.net

PackShow – packaging expo

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4-6 March 2013

Expocenter Gostinij Dvor, 4 Il’inka, Moscow, Russia

 

In promotion of the brand companies, an increasingly important role played by packaging. Effective packaging solution becomes one of the most important factor in improving the competitiveness of domestic goods, and the production of packaging — a tool for development of the consumer market, attractive for investment.

The National Confederation of Packagers presents a new international project in the field of packaging — the exhibition “PackShow.”

One of the main ideas of the “PackShow” — is an opportunity for the consumer market, ask questions to the producers of packaging in an open dialogue, that is realized in the trade fair for the first time.

Tel./fax: +7 (499) 999-12-07

Web: http://www.packshow.ru/eng/

E-mail: info@fpackshow.ru

12th Annual Russian Retail Forum

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18 – 21 March 2013,

Moscow, Russia

 

The Russian Retail Forum is a strategic meeting place for the retail industry elite.

90% of our speakers were retailers. The Forum was designed by the industry, for the industry. In 2012 we gave the floor to as many leading and dynamic retailers as possible. CEOs and senior executives of the 20 top retailers in Russia including Auchan, Euroset, Media Saturn, MTS Retail, M.Video, Svyaznoy and Leroy Merlin were among 70+ speakers.

View Russian Retail Forum’s agenda here.

You can find more information here: www.adamsmithconferences.com 

Court upholds Metro debt recovery

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The Ninth Commercial Court of Appeals has confirmed the lawfulness of the court decision to recover 27.1 million rubles ($850,860) in debt from Metro Cash & Carry.

Earlier, Metro Cash & Carry filed an appeal against the Moscow Commercial Courts January 25 decision partially satisfying Icebit’s lawsuit to recover the initially claimed 75 million rubles ($2.35 million) from the company.

The court found that Icebit supplied goods to the defendant from 2009 to 2011 amounting to 82.4 million rubles ($2.58 million).

The defendant’s receipt of the goods is confirmed in the consignment notes, according to the court. The parties do not dispute the nature or the amount of the supplies.

The defendant has already transferred 43.9 million rubles ($1.37 million) to the plaintiff. The court decision reads that the rendered services and the cost of the returned goods subject to recovery amount to 27.1 million rubles ($850,860). The defendant confirmed its debt of 27.1 million rubles. However, as for the other claims in the case, it considers the lawsuit to be groundless.

It also asked the court to refuse to demand interest from the company.

Metro Cash & Carry said the plaintiff has not provided evidence that it sent invoices to it.

Source: www.freshplaza.com