Expert predicts surge in demand for Russian products as duty-free threshold drops

The threshold for the duty-free import of goods for individuals automatically went down to 200 euro on April 1 on the territory of the Eurasian Economic Union.
Decreasing the duty-free threshold on goods brought into Russia to 200 euro may lead to increased demand for Russian products, Executive Director of the National Council for Perfumery, Cosmetics and Household Chemistry Andrey Samoilov told TASS.
"As of today, Russian perfumery and cosmetics companies produce all the staples in the mass segment. Nearly the whole range of traditional cosmetics products is offered on the Russian market, even despite the eighth package of EU sanctions, which restricts access to luxury cosmetics. Meanwhile, Russian cosmetics producers actively tap those niches that were left open, competing properly, comparing favorably in quality and price with foreign brands," he said.
Last year Russia’s production of perfume and cologne rose to over 60 mln bottles, Samoilov noted. At the same time, last year’s average growth of production for the perfumery and cosmetics industry is estimated at 19%. "The decrease in the duty-free threshold on imports to 200 euro may facilitate an even higher interest in Russian products, which will lead to more production," he said.
Moreover, not long ago in the period from June to November 2023 analysts at the Dialogue company did a social media assessment of people's attitudes to Russian cosmetics, the expert added. More than 26,000 comments on such platforms as VKontakte, Telegram and Dzen were considered. "The research showed that 73% of users have a positive view of Russian cosmetics brands," he said.



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