The berry business in Russia has good growth prospects
Since the beginning of the XXI century, the commodity market of fresh berries in Russia was formed mainly by imports. Volumes of berries grown abroad in physical terms were 7-8 times higher than the domestic commodity production, and the growth in consumption of fresh berries by Russians was solely due to imports.
After the ban on the supply of fresh berries from traditional importing countries was introduced in 2014, the forced decrease in imports from abroad naturally led to a sharp decline in the entire commodity market and consumption. In 2016, the berry market reached its "bottom". According to analysts of Growth Technology company, the total trade supply, for example, only garden strawberries were 70% lower than in 2013, and prices have increased significantly.
The last 3 years there is a gradual recovery of the berry market as a result of increasing imports and increasing domestic production of berries in open and protected soil. However, even in the past a very successful year for the berry industry of Russia 2019 the volume of commodity supply was still less than 5 years ago.
According to expert forecasts of Growth Technology, taking into account changes in consumer preferences for food for the majority of the population, the domestic berry business has good prospects for growth.