Dr. Condaleeza Rice and our old friend Dick Cheney and some of their friends in the European Union may be somewhat irritated by Russia these days and we hope is just a passing phase. But chocolatiers have no problems about exchanging bear-hugs with the Russians and we hope that is one of the routes to peaceful co-existence.
Barry Callebaut announced a new Chocolate Academy in Chekhau. I love this strategy that Callebaut employs. First they provide Chocolate training. They teach people how to respect and love chocolate. Then they sell chocolate.They did the same in India and China. Ferro built a 91million chocolate facility. And Nestle acquired one of the leading chocolate plants in Russia,Ruzskaya Confectionary Factory.
The Russian Market grows an average of 15.3% in value annually and 5.4% in volume. Which is significantly over the world market of 2%-3%. This is a reflection of the increased wealth, of middle class, urban Russians, growing from $160 a month in 2002 to $540 today.And the shift is towards the high quality premium products.
Financial Times reports that Russia will be the third biggest chocolate market in the world, after US and the UK pretty soon.We should be eyeing this market.
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