The Belarusian Dairy Market Seeks New Opportunities
Belarus strives to mark its importance on the dairy market and announces a total of $4.5 billion in agricultural exports in the period from January until October 2020. In that sector, milk shipments are crucial and account for around $1.8 billion with a 5.7% increase from last year, while butter export rounded up to $133.7, casein export rose by almost 55%, dry whey gained 27.8% and cheese increased by 12.2%. One of their major partners is China with 56 certified enterprises in the dairy sector.
To further enhance the development of the dairy industry, the government announces a plan to grant subsidies to eight enterprises aimed at helping them with paying off the interest rates on their loans. The financing will come from the central state budget and will be equal to 30% of the refinancing rate from the central bank.
The year 2021 seems to be opening new opportunities for the Belarussian dairy market. Russia will soon establish the marking of dairy goods and the Belarussian sector is convinced that once the lower-quality product will be shaken off the market, their products will grow in demand. Additionally, to ease out the fears of possible price inflation, Russia assured that it will keep the prices for certain goods unchanged.
Furthermore, Belarus is set to showcase its agricultural offer at the Gulfood expo in Dubai at the end of February 2021. The event is one of the largest in the industry and brings over 100,000 participants from all over the world, creating global partnership opportunities. In 2019, the exposition brought Belarus $13 million worth of contracts.