18.03.2024, 09:29
More cheap wine began to be imported into Russia
Source: OREANDA-NEWS
OREANDA-NEWS In 2023, the import of still, sparkling, and fortified wines into Russia increased by 448 million liters, according to the Vedomosti newspaper, citing sources.
Retail chains were the main drivers behind this increase, with the top five largest importers including X5 Group, Magnit, Novabev Group, Synergy-Import, Red and White, and Bacardi Rus. Over the course of the year, these companies increased their imports by 43 million liters in total.According to Alexander Stavtsev, the head of the WineRetail information center, within the past five years, the share of retailers' direct imports has increased from 20% to 80%. Companies are attempting to switch to direct imports of cheaper drinks in order to enhance import control and maintain prices. At the same time, the rapid increase in import volumes can be explained by market players' desire to stockpile alcohol amid fluctuations in the exchange rate and rising duties.
Due to a significant increase in duties on alcoholic beverages from unfriendly nations, Russians have been warned about a potential 30% price increase for domestic wines in 2024. Experts anticipate that if this measure is implemented, it would also impact Russian products from Crimea and the Krasnodar Territory, primarily in the price range of 500-600 rubles per bottle.Earlier, the State Duma supported the idea of introducing quotas for Russian wine in restaurants, cafes, and shops, requiring that at least half of the drinks available on the shelves be domestic. In addition, representatives of the wine industry proposed imposing a 200% duty on wine from NATO countries, but this is considered a risky and dangerous step in the State Duma as it could hit the wallets of citizens.
Retail chains were the main drivers behind this increase, with the top five largest importers including X5 Group, Magnit, Novabev Group, Synergy-Import, Red and White, and Bacardi Rus. Over the course of the year, these companies increased their imports by 43 million liters in total.According to Alexander Stavtsev, the head of the WineRetail information center, within the past five years, the share of retailers' direct imports has increased from 20% to 80%. Companies are attempting to switch to direct imports of cheaper drinks in order to enhance import control and maintain prices. At the same time, the rapid increase in import volumes can be explained by market players' desire to stockpile alcohol amid fluctuations in the exchange rate and rising duties.
Due to a significant increase in duties on alcoholic beverages from unfriendly nations, Russians have been warned about a potential 30% price increase for domestic wines in 2024. Experts anticipate that if this measure is implemented, it would also impact Russian products from Crimea and the Krasnodar Territory, primarily in the price range of 500-600 rubles per bottle.Earlier, the State Duma supported the idea of introducing quotas for Russian wine in restaurants, cafes, and shops, requiring that at least half of the drinks available on the shelves be domestic. In addition, representatives of the wine industry proposed imposing a 200% duty on wine from NATO countries, but this is considered a risky and dangerous step in the State Duma as it could hit the wallets of citizens.
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