“Russia’s counter-sanctions include a ban on the Parmesan cheese import. I would say it is a big mistake, because this cheese is aged longer than other hard grating cheeses and therefore cannot be considered a fresh dairy product. Yet, its import is banned,” Italian Ambassador to Russia Pasquale Terraciano said at WorldFood expo in Moscow.
H.E. Pasquale Terraciano spoke at the opening of the Italian pavilion at WorldFood Moscow 2019, an international exhibition taking place on September 24-27. The food industry accounts for 8.5% of trade between Italy and Russia. The top five products imported from Italy include wine (including sparkling Prosecco, which shows good sales growth in the Russian market), coffee, pasta, olive oil and confectionery. The popularity of Italian dietary and baby food products is also growing in Russia.
According to the ambassador, it is essential to keep the market share until the end of the sanctions period, when it will be possible to gain momentum and open new niches. There is reason to believe that bilateral trade will soon reach its 2014 level.
Despite political difficulties, food exports are growing. Pier Paolo Celeste, head of ICE Moscow (Italian Trade Agency’s office) said major performance indicators are likely to increase by about 10% in 2019.
With sanctions impeding trade, importers have sought other opportunities for cooperation, selling technology instead of banned products. Italian companies intend to continue investing in local production in our country. In particular, the meat producer Cremonini Group (MAR brand in Russia) and Ferrero, which owns a plant in the Vladimir Region, plan to increase production.