MOSCOW, May 22 (PRIME) -- Russian confectioners can lose U.S. $15–17 million in 2017 because Ukraine introduced anti-dumping duties on chocolate and other cocoa-containing food produced in the country, according to a report published by the Center for the Confectionery Market Research on Monday.
Ukraine introduced a 31.33% five-year anti-dumping duty on Russian imports of chocolate and other ready-made cocoa-containing food late last week. The ruling will come into force in one month.
The researcher said: “A significant amount of supplies was going to Ukraine, and in accordance with calculations by the Center for the Confectionery Market Research, Russian confectioners can see $15–17 million shortfalls in sales.”
The duty is prohibitive, which will result in a decrease of Russian chocolate sweets exports to Ukraine, the experts said.
In 2016, Russian companies exported 7,500 tonnes of chocolate sweets to Ukraine for $22.9 million, which accounts for almost 5% of Russia’s chocolate sweets exports.
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