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Wednesday, September 18, 2013

Georgian wine in, Moldovan wine out

18.09.2013. While Georgian wine has returned to the Russian market, a ban was announced for Moldovan wines. The Moldovan  wine held around 10-12% of the Russian market, so, presumably, Georgia will take this segment of the Russian wine market. However, this will not be the only substitute because Georgian wine is more expensive than Moldavian wine. The average price of Moldovan wine is 2 USD, while a bottle of Georgian wine is 3.5 USD.

Some believe this Russian step was made based on Moldova's decision to shun the Russian Customs Union in favor of EU integration. Moscow often uses this form of punishment against its "disobedient" partners. 75% of Georgian wine was being exported to Russia before the embargo was imposed. Because of this embargo, Georgia had to look for new markets. Georgia slowly took steps by exploring Ukrainian, Chinese, Kazakh, and other wine markets. Since Georgian wine has returned to Russia, it enters the market carrying a higher price tag because the quality of Georgian wine has improved. The Georgian wines are now regaining their reputation in Russia.

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