Importers predicted a 30% increase in the price of wine from the New World
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Prices for wines from the New World in 2023 may rise by 30%. Such forecasts with Kommersant shared at the wine trading company Fort.
There are several reasons for that. Due to the new requirements of the International Maritime Organization (IMO), which aim to reduce CO2 emissions, the speed of delivery of containers may be reduced. In addition, all this is accompanied by an increase in logistics prices by 5-10%, the company calculated.
The energy crisis will also affect prices. According to Fort import director Daria Sologub, this will most affect the segment of inexpensive wines, for example, from Chile and Argentina, where logistics takes a large share in pricing. Fort expects that the share of wines from the New World in the Russian market will decrease by 10-15% in bottles and from 20% in money terms.
Ladoga Development Director Dmitry Isachenkov notes that the situation is aggravated by a poor grape harvest in Argentina and Chile. According to him, the difficulties caused by sanctions and rising prices will lead to a drop in the share of wine from the New World by 25-30%.
As confirmation, he cited data for the first quarter on the import of wines to the Russian Federation from Chile, South Africa and New Zealand (together occupy about 10% of the market). During this period, imports decreased by 19%, 32% and 30%, respectively. This is due, among other things, to the ban on the supply of alcohol from the United States, Australia and New Zealand. At the same time, RTA CEO Khakim Ibragimov notes that since the beginning of the crisis, New World wines have been imported to Russia mainly through the ports of Turkey and Georgia.
Isachenkov believes that the demand for wines from the New World will continue, despite the logistical difficulties. He noted that so far Russia does not produce wine of the appropriate quality in such volumes. However, according to him, Russian wines successfully compete with foreign ones due to attractive prices. He added that suppliers of European table wines, the CIS countries, as well as China and India may also join the fight.
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