Mondelez announces reduction of operations in Russia

Leading American food manufacturer Mondelez has announced that it is cutting back on operations in Russia.

Ukrinform reports this with reference to the Voice of America.

By the end of 2023, the company plans to create a separate business in Russian market that will have a self-sufficient supply chain.

Earlier, the snack maker faced a significant corporate boycott in the Nordic countries because of its presence in Russia.

After that, the company said it stopped new investments, product launches, and media advertising spending in Russia.

Mondelez said that as a result of these actions, overall volumes have declined, and both imports and market share have significantly decreased.

Earlier, Chicago-based Mondelez said it was continuing limited operations in Russia, halting investment and advertising, and condemning the war.

Among the company's most famous brands are Kraft, Oreo, Jacobs, Milka, Trident, etc.