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. Last Updated: 07/27/2016

Campbell Soup Heading East

CHICAGO -- Campbell Soup on Monday laid out plans to sell soup in Russia and China as it tries to capture sales in those fast-growing markets.

Campbell said soup consumption in Russia and China, the world's two largest markets for such products, far exceeded that of the United States.

In the United States, about 14 billion servings of soup are consumed each year, Campbell said, compared with about 32 billion in Russia and about 320 billion in China. Nearly all of the soup consumed in Russia and China is homemade.

The company's entrance into both markets comes as income levels are rising and consumers are looking for convenience, CEO Douglas Conant said in a statement.

In Russia, the company plans to introduce beef, chicken and mushroom varieties. The soups will first go on sale in Moscow in October.

Analysts say pre-made soup producers, including foreign ones, have good prospects in Russia.

"People used to prefer cooking at home and now, with many rushing doing business, people are actively switching to semi-finished products," said Vladislav Kochetkov from Finam investment company.

"There are Campbell Soup's products sold in Russia, but not very widely and the company does not promote its products here very actively," Kochetkov said. "If it enters the market more actively and invests heavily in marketing and promoting its products, the prospects are not bad at all."

In China, Campbell will introduce two Swanson-brand selections: a clear chicken broth and a classic broth known there as Gao Tang, with a combination of chicken, Hainan ham and pork.