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Wednesday, July 25, 2012

Wine Price Hike Expected in Georgian Market due to Disaster: 20-25% of crop destroyed

24.07.2012. Wine companies are counting damage caused by disaster in Kakheti. According to "Kindzmarauli Marani", up to 10 hectares of vineyards have been damaged. Director General of the company explained to Commersant that hail destroyed up to 400 tons of grapes that makes 20-25% of the entire harvest. Dimitri Lebanidze notes, whether a loss will be reflected in production quantity and price will be known at harvest time.

The disaster destroyed 60 tons of crops of "Shuchmann Wines". The company's management informs, that the damage will reduce harvest by 20%, but, nevertheless, they will have to buy a minimum amount of wine. The management predicts, against shortage of raw materials on the local market, wine price will rise sharply because the wine companies operating in the market will have to purchase grapes at a high price.

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