Updates from the Russian Federation

News briefs from around Russia

Chinese investors come to Caucasus
The government of Ingushetia (a Federal Republic in Caucasus region) agreed to lease 100 ha of land for Chinese investors who are going to grow fruit and vegetables there and build a modern logistic centre, M. Malsagov, general director for investing development, told the Ria Novosty news agency. Ingushetia had previously signed an agreement with Chinese businessmen for their participation in the development of various projects in the republic.

German farmers lost more than €600 million
German farmers affected by the Russian embargo have incurred direct losses of more than €600 million, according to estimates from DBV, the German Farmers’ Association. There are also indirect losses related to the oversaturation of the domestic market and pricing pressure, reports the Agriacta agency.

New B2B platform in Tula region
Magnit, Russia’s largest food retailer, is cooperating with the authorities of Tula region for a project “catering saving purchase”. Thus, Magnit may become a competitor to Metro C&C, says the Vedomosti.ru agency.
Magnit has For several years been developing related businesses, producing vegetables, greenery, spices, dressings, dry fruit, berries and herbs.
Founded in 1994, Magnit is headquartered in the southern Russian city of Krasnodar. As of March 31, 2015, it operated 28 distribution centers and over 10,000 stores (8,581 convenience, 300 hypermarkets, and 1,239 drugstores) in approximately 2,180 cities and towns throughout 7 federal regions of the Russian Federation.

NV