Panic forecasts about the impact of the pandemic on the dairy market did not come true – Soyuzmoloko
According to Soyuzmoloko, the key factors that supported the demand for food products in 2020 are the financial support of the population from the state and reducing the cost for foreign holidays.
In the dairy category, the growth was shown by products that are used in home cooking: butter, cream, sour cream, cottage cheese and drinking milk. Demand for dairy products for snacking has fallen.
Soyuzmoloko called the real disposable income of the population, which fell by 4% in the first half of 2020, a key factor in the further dynamics of demand. This increases the production of milk, reduces imports of skimmed milk powder and whole milk powder from the Republic of Belarus that allows balancing the situation on the market.
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