(AOF) – American agribusiness company Kraft Heinz would agree to sell its baby food business in Russia to the Russian soda and snack company Chernogolovka, according to statements by the Russian manufacturer made to Reuters. Kraft Heinz estimates the value of the deal at between 2.5 billion and 3 billion rubles (35.76 million euros), but the government has yet to approve the estimate, Russian business newspaper Kommersant reported on Thursday, citing sources.
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Soaring energy prices and a call for help
In the past, energy represented a fixed cost of 3% of turnover. This year, this percentage rises to 5% or even 7% for VSEs-SMEs, according to Ania (National Association of Food Industries). Professionals are very worried because until the end of 2022 they generally benefit from coverage to cushion these increases. However, they have not been renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercereals, Inaporc, Semae, etc.) are calling on the State for help in the face of the erosion of their margins and their capacity to investment.
The State has proposed several devices, including an “electricity damper”, which are deemed insufficient. The organizations also deplore the failure of European negotiations to achieve a tariff shield to avoid distortions of competition. Agriculture and agri-food require a maximum ceiling price of €180/MWh, while many companies buy at prices above €500/MWh on the French market.