The COVID-19 pandemic increased wine exports from Russia by a third

Russia began to export abroad a third more domestic wines. This was announced on January 22 by the federal center of the Ministry of Agriculture "Agroexport", RIA Novosti reports.

Wine exports rose to $13 million. The largest importer of Russian wine is Ukraine, which purchased $5 million worth of products, followed by South Ossetia and China, which spent $1.5 million each. Russian wine is also highly valued in Kazakhstan and Latvia.

The geography of Russian wine importers is 30 countries and is constantly expanding.

Experts suggest that the growth in exports is due to the fact that foreign winemaking has been hit hard by the COVID-19 pandemic. In Italy, Spain and France, which produce 45% of the world's wine, the situation was exacerbated by poor harvests. And in New Zealand grapes were killed by frosts.

“Imports have risen in price, and supplies from Europe have become smaller. This plays into the hands of the members of the Eurasian Economic Union. Including domestic producers in the price category of five hundred rubles per bottle,” explained Nikita Dolgiy, managing partner in investment consulting and asset management at Wolfline Capital.

European suppliers have greatly raised prices. Corks, capsules, screw caps increased by 60%, labels by 50%, glass containers by 20%, packaging by 80%.

“Prices for domestic wines are lower due to the devaluation of the ruble,” said Artem Deev, head of the analytical department at AMarkets.

It should be noted that Russian winemaking is mainly concentrated in the Krasnodar Territory, where 45% of all products are produced.

Experts predict that in 2022 Russian winemakers will be able to increase their share in the global market. Wine imports will exceed $25 million. Promising destinations are the CIS countries (Belarus, Kazakhstan) and Asia (China, Japan, Hong Kong, the Republic of Korea, Taiwan, Vietnam).

Source: https://rossaprimavera.ru