INSUBCONTINENT EXCLUSIVE:
Suppliers of bread, dairy, chocolate and beer in Russia have informed retailers of impending price increases of up to 40% over the next
month, the business daily Kommersant reported Thursday, citing price-increase notices from at least 13 companies.The price hikes, slated for
August and September, are being attributed to a combination of high inflation and expensive loans, as well as the rising costs of shipping,
personnel, packaging and raw materials.A retail market source who spoke to Kommersant on condition of anonymity blamed the Russian Central
products would see a price increase of 10% due to rising raw material costs.German chocolate maker Ritter Sport, which maintains operations
in Russia, plans to raise prices by 40% starting Sept
Mars, which also still does business in the country, indicated that prices for its Dove chocolates and Skittles candies will increase by 19%
and 13% respectively from Sept
July compared to the same period last year.
