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Business news, 07.12.2004 17:19

Alcohol Shows Promise

Alcohol products Alcohol manufacturing will be the most promising segment of the food market in St. Petersburg, according to experts. The segment for alcohol products will grow annually by 28 percent for the next five years.

Considering growth potential on the Russian food production market in 2004, auditing firm Ernst & Young concluded that fine liquor, beer and wine were the most burgeoning products for the next five years. The results arrived after the firm conducted a study of 50 companies, 70 percent of which were Russian food producers and the remaining - international corporations.

According to the study, the segment for alcohol products will grow annually by 28 percent for the next five years. Meanwhile, the growth of soups, spices and sauces will reach about 26.4 percent.

Third on the listing was children's food segment with a 25 percent rise in sales volume.

News source: www.sptimes.ru

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