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More than 10 Turkish brands will enter the Russian market in 2023 More than 10 new Turkish brands entered the Russian market and opened stores in 2023. This was announced by the managing partner of the consulting company RRG Denis Kolokolnikov during the international exhibition and conference Mallpic. “We were expecting more expansion from Turkey and other countries, but we still see a decent amount. More than 10 new brands from Turkey have entered the Russian market,” he said, adding that most of them specialize in the fashion segment. Among them are Loft, Madame Coco, NetWork, Club, AC&Co and others. At the same time, such brands as LC Waikiki, Koton, Colin's, and DeFacto were already represented in Russia. As experts reported to TASS, with the departure of international operators, the Russian market was rethought in a new way by eastern retailers. Many Turkish brands that once entered the Russian market, but could not find a place for themselves, began to again consider this space for development.

In October, Brazil increased imports of Russian diesel fuel. In the second half of October, Brazil even became the largest destination for diesel fuel exports from the Russian Federation, overtaking Turkey, and Russian companies became the main external suppliers of diesel fuel to the Brazilian market. Russian supplies to Brazil this year are outperforming American refineries in price competition, which have long been leaders in this market.

Cement production and consumption increased in Russia Cement production in Russia from January to September increased by almost 3% compared to the same period last year, and consumption by 5%, reported the industry association of cement producers Soyuzcement. It is noted that in just nine months, 49 million tons were produced, and more than 50 million tons were consumed. At the same time, cement imports increased. Sales abroad increased by 62% to 2.5 million tons. It is mainly Belarus and Kazakhstan that buy it from Russia. Cement exported increased by 8% - up to 824 thousand tons. It was also imported mainly from Belarus, which supplied 73% of the total volume of cement to Russia. Also among the suppliers are Iran and Kazakhstan.

The Russian government has approved a list of agricultural products for export in rubles The government has developed a list of agricultural products for the export of which, from November 1, a special payment procedure is allowed - through special ruble and foreign currency accounts. This was reported by the government press service. The list includes: pork, meat and poultry by-products, milk and cream, barley, corn, wheat and meslin, soybeans, flax seeds, sunflower, soybean and rapeseed oil, sugar, cakes and other solid residues that are obtained from the extraction of fats.

Enterprises producing soybean flour, rice flour, dried legume flour, wheat flour, edible vegetable oils that submitted an application for certification before October 25, 2021 were approved by the Chinese side and published on the portal of the General Administration of Customs of the People's Republic of China https://ciferquery.singlewindow.cn

Cocoa prices rose to a 44-year high Because of this, sweets manufacturers began to raise prices. December cocoa futures during trading on the Intercontinental Commodity Exchange (ICE) on October 23 rose by 2.5%, to $3,786 per ton. This is the highest price since 1979, CNBC reports. The reason for the rise in price lies in climate change. To grow and yield well, cocoa trees need high humidity, consistently warm temperatures and plenty of rain, said Wells Fargo agri-food analyst David Branch. But this season, most of the necessary conditions were not available, affecting the cocoa harvest, he said. The West African countries of Cote d'Ivoire, Ghana, Cameroon and Nigeria, which together account for nearly 75% of global cocoa production, are facing heat and drought due to the El Niño weather phenomenon. This is the second year in a row that El Niño has affected the cocoa crop. The Climate Prediction Center (CPC) estimates the weather event will last until summer 2024.

🇷🇺 🇨🇳 Russian gas supplies to China to reach level of exports to Western Europe soon — Gazprom 📊 Russia exported 15.5 billion cubic meters of gas to China in 2022 via the Power of Siberia gas pipeline. In 2023, supplies are projected at 22 billion cubic meters. The gas pipeline is expected to reach its design capacity of 38 billion cubic meters in 2025. Chairman of the Gazprom Management Committee Alexey Miller said this in a commentary for the “Moscow. Kremlin. Putin” program. 👷 Earlier, Russian President Vladimir Putin reported that construction of the Power of Siberia 2 gas pipeline to go through the territory of Mongolia to China will progress at a good pace. 💬 “All the parties want to participate, want to work. The issue is about implementation — I think we will move with a good momentum,” he said. @RoscongressDirect

🇷🇺 🇮🇳 Sberbank has obtained a license as a first category foreign portfolio investor in India, becoming the only Russian bank with such a status for now. Now, Sberbank in India can: 🔹 disclose less information about its clients; 🔹 use foreign derivative instruments based on Indian stocks; 🔹 receive tax benefits and other preferences. 💬 “This license allows trading and investing in one of the most dynamically developing financial markets in the world. It involves investments in currencies, commodities, and other assets,” stated Anatoly Popov, Sberbank's Deputy Executive Board Chairman. @RoscongressDirect

Rusal will buy a third of the plant in China to restore alumina supplies Rusal has agreed to purchase a third of a Chinese metallurgical company to ensure supplies of alumina. The company needs raw materials against the backdrop of restrictive measures in Western countries. Rusal (RUAL) signed an agreement to acquire a 30% stake in the Chinese metallurgical company Hebei Wenfeng New Materials (HWNM) for 1.911 billion yuan, or $266.89 million (the rate of 7.16 dollars/yuan was used in the calculation) The agreement between the Russian and Chinese companies will provide access not only to a stable source of alumina at better prices, but also to the world's best technologies and practices for alumina production and environmental protection. The partners will share the alumina produced in China in proportion to their equity shares, the statement said. The Russian company will also be able to gain “access to alumina at a competitive price” and secure its main supply of raw materials. The company emphasized that the deal will strengthen the raw material security of the Russian aluminum industry, “reducing risks in the provision of critical raw materials.” The Chinese plant was chosen by Rusal against the background of the expansion of alumina production in the country - in 2022 alone, China commissioned more than 10 million tons of new capacity. The total production volume of the material exceeded 76 million tons, which is more than half of the total world production. For comparison, Rusal accounted for 5.6% of global aluminum production and 4.5% of alumina in 2022.

Finnish elevator manufacturer Kone has completely left Russia Finnish elevator manufacturer Kone has completed the sale of its Russian division and has completely left the country. Kone's assets were acquired by the Russian diversified holding S8 Capital. The transaction amount is not disclosed. The deal has been approved by the relevant authorities and its closure means that Kone is now completely out of Russia. Kone is one of the largest companies in the production of elevator equipment and escalators. It has been present on the Russian market since 1935.

Russia and Iran have agreed to zero customs duties on mutual trade by March 2024, IRNA reports citing Kambiz Merkazemi, a member of the Joint Iranian-Russian Chamber of Commerce

Work to create a unified BRICS payment system is underway, but will not be public,” Russian Foreign Ministry.

The ban on coal exports from Kazakhstan has been extended for another six months - zakon.kz They decided to extend the ban for six months in order to prevent a shortage of coal for Kazakhstanis during the heating season. Such measures were taken on October 18, 2023 by the Ministry of Industry and Construction of the Republic of Kazakhstan, Zakon.kz reports. The ban on the export of coal from Kazakhstan is extended from November 26, 2023 for six months. It will not be possible to export from the country: • hard coal, pulverized or non-pulverized, but not agglomerated (HS code 2701); • lignite, or brown coal, whether or not agglomerated, except jet (HS code 2702).

Rosselkhoznadzor prohibits the import of rice from the Indian company SRI SAI NATH AGRI INDUSTRIES PVT.LTD into Russia

BRICS works on creation of unified payment system Also, BRICS leaders have agreed to support radical reform of international economic structures, President of South Africa Cyril Ramaphosa said. 💬 “We are striving for the creation of a fairer, accountable, and efficient system of global economic governance,” he emphasized. “Within BRICS, there is also an understanding of the need for reform in international political organizations, including the UN and the UN Security Council.” 🇷🇺 The issue of creating a unified payment system using BRICS currencies will be on the agenda of the upcoming summit of the alliance, which will take place in Russia. @RoscongressDirect

🇷🇺 🇸🇦 Trade turnover between Russia and Saudi Arabia grew by almost 20% in the first seven months of 2023. The countries are aiming to further increase the volume of trade. For example, Russia is ready to increase the supply of petroleum products. This was announced by Deputy Prime Minister of Russia Alexander Novak at a meeting of the Russian-Saudi Joint Intergovernmental Commission. According to him, successful cooperation in the energy sector can be expanded through: 🔹 projects in the field of peaceful atom; 🔹 services in the field of scientific and technical cooperation; 🔹 development and implementation of technologies in the field of geology, drilling, extraction, and processing of hydrocarbons; 🔹 application of artificial intelligence and solutions for digital transformation. @RoscongressDirect #REW2023

Russia purchased Loongson processors from China that are not of the highest level. It received chips from the 5000 line, while in China itself sales of computers based on the latest 3A6000, which was released in the summer of 2023, began. In terms of its capabilities, according to the developers, it (3A6000) is comparable to the 11th generation Intel Core, which came out three years ago. As WCCFTech writes, the 3A6000 processors are currently intended only for the Chinese domestic market, and recently the 3A6000 found its way into new pre-assembled PCs that went on sale in Chinese stores. Now in Russia servers, data storage systems, computers and laptops will be produced, moreover, by several manufacturers based on chips of the 5000 line.

Hungary will expand its business presence on the Russian market. Budapest is expanding the presence of agricultural and food businesses on the Russian market, and also advocates the development of cooperation in the healthcare sector, since these areas are not affected by sanctions, - Hungarian Foreign Ministry.

A new report from Clarksons Research says cargo owners will have to fork out a lot more to ship their goods this decade - Mortsentr-TEK Freight markets have seen "huge volatility" in the 2020s, primarily due to back-to-back disruptions related to covid and the conflict in Ukraine. The average cost of freight in the 2020s has now significantly exceeded the cost of freight in the 2010s, with the delivery of iron ore over the past decade rising by 18%, grain by 27%, liquefied gas by 34%, crude oil by 32%, while container shipping, which was record high for much of the 2020s, saw spot rates around 2-3.5 times the 2010s average. Along with global events, the price has also been impacted by rising cost bases and inflation, with Clarksons noting that the shift to low-sulfur fuels has seen bunkering costs for most vessels rise by around 20% since the 2010s. “Shipping markets remain (multi)cyclical, but the 2020s have left a significant mark on shipping costs so far,” concludes Clarksons, warning that the upcoming complex challenges facing shipping, such as decarbonization and geopolitics, should be “ watch list" of cargo owners