Russian Buyers Bolster WorldFood Moscow
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Trade events often respond well to dynamic phases of industry development, even when the headwinds are less than favourable. This was certainly true at the recent edition of WorldFood Moscow which took place in a climate of continuing trade sanctions, a weak rouble and a depressed oil price that has been undermining confidence in the immediate future of the Russian economy.
ITE Food&Drink’s International Sales Director, Tony Higginson was encouraged by the atmosphere on the show floor. “I spent most of the week speaking to exhibitors and monitoring activity around the event. The sanctions and economic conditions are resulting in food retailers, wholesalers and distributors being as keen as ever to see what’s available to them from around the world. Although the event was slightly smaller than last year, approximately 60% of space was occupied by international exhibitors including many first-time participants and preliminary figures suggest that visitor numbers are marginally up. There was a reassuring buzz around the place and anecdotal feedback about the volume of trade conducted was very good.”
Private consumption of food in Russia is expected to return to growth in 2016. This, combined with the sanctions has created opportunities in the market for suppliers. The Egyptian, Brazilian, Indian and South African groups were larger than in previous years and the international flavour of the event was complemented by a group from Mauritius.
Other food events in ITE’s portfolio are also buoyant. Higginson continued. “I’m delighted that our flagship Russian exhibition is delivering results in difficult conditions but it’s success isn’t isolated. We’re seeing good performance across the portfolio”.