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FX.co ★ Russia exports black caviar bonanza

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Forex Humor:::2016-03-03T15:42:00

Russia exports black caviar bonanza

Now Russia delivers not only cheap black gold, but also cheap black caviar. The Russian Ministry of Agriculture reported a surge in exports of black caviar abroad. According to officials, a record slump in the Russian currency became one of the key reasons for a jump in exports. The ruble that slid against the US dollar by almost three times made black caviar about three times cheaper for foreign buyers. In January to November 2015, the delicacy shipments tripled in annual terms and totaled 4.71 tons, up from 1.65 tons in the same period of 2014. The Ministry says that exports advanced mainly because of sturgeon farming. Besides, the ruble’s exchange rate created a favorable market situation.

Probably, the roe has palled in Russia or even never has been that popular among the nations. Russian goods are sliding in price for foreigners, while soaring for the population. In particular, the President of the Russian Federation, one of the largest oil producers, signed the law increasing excise taxes on gasoline within the country.

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