Boston, MA -- (SBWIRE) -- 12/09/2013 -- BMI Industry View

As Estonia's unemployment rate continues to fall and household incomes continue to rise, its consumer outlook appears positive. The retail sector is feeling comfortable and plans further modest expansion of ranges and premises during 2014, with the mass grocery retail players being no exception. The more stable eurozone should also buoy up Estonia's economic and investment outlook, although the fragility of some eurozone members' economies means that continued stability of the currency is not guaranteed.

Headline Industry Data (local currency)

- 2013 per capita food consumption: +2.22%; forecast compound annual growth rate (CAGR) to 2017: +1.71%.
- 2013 alcoholic drinks sales (volume): +0.44%; forecast CAGR to 2017: +0.68%.
- 2013 soft drinks sales (volume): +2.01%; forecast CAGR to 2017: +0.72%.
- 2013 mass grocery retail sales: +2.42%; forecast CAGR to 2017: +3.88%.

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Key Company Trends

Estonian Spring Cereal and Non-Cereal Yields Higher In 2013: Statistics Estonia reported in September 2013 that the harvest of key agricultural commodities had been completed considerably earlier than in 2012. By mid-September, 97% of areas planted to cereal grains had been harvested, as had 79% of rape and turnip rape, but just 47% of potatoes had been harvested. The yield of these non-cereal commodities was reportedly greater than in 2012. In terms of yields, one hectare of harvested rape/turnip rape yielded more than 2,000kg, while potatoes were averaging 21,982kg of crop per hectare. While spring cereal yields were higher than in 2012, this has been offset by lower winter cereal yields and overall one hectare delivered an average of 3,317kg - a little down on 2012 overall.

Estonian Vegetable Industry Struggling Against Imports: Despite an ongoing campaign by Estonian agricultural producers, chefs and other activists regarding eating domestic food products, the Estonian Horticultural Association highlighted that local vegetable producers faced huge challenges from foreign competition. One of the country's largest tomato producers had resorted to giving away tonnes of vegetables in 2013 after failing to sell their produce to a national retailer. Cold Estonian winters mean that locally produced vegetables have to be stored in heated premises, and this additional cost tends to make such produce less competitively priced against equivalent imports.

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