Russia in the soup as economy sours
By: Katy Askew | 17 November 2009
Russia, so often cited as one of the world's most attractive emerging markets for food manufacturers, presents soup makers with quite a conundrum. On the one hand, it is the second largest soup consuming nation globally. On the other, growth of the ready-made soup category has been held back as manufacturers struggle to convince consumers to abandon their traditional home-made borscht or schi. Add to the pot the economic crisis and consequent decline in consumer spending and the short-term prospects for the category look cloudy. Katy Humphries reports.
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Russia, so often cited as one of the world's most attractive emerging markets for food manufacturers, presents soup makers with quite a conundrum. On the one hand, it is the second largest soup consuming nation globally. On the other, growth of the ready-made soup category has been held back as manufacturers struggle to convince consumers to abandon their traditional home-made borscht or schi. Add to the pot the economic crisis and consequent decline in consumer spending and the short-term prospects for the category look cloudy. Katy Humphries reports.
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