the imported wine market in Russia will decrease by 25% – Kommersant
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President of the Abrau-Durso group of companies Pavel Titov suggests that the presence of foreign wines on the Russian market will be reduced by about a quarter in the near future.
“Due to the growth of import duties, the market for imported wines from unfriendly countries, according to our forecasts, will decrease by a quarter next year, and we, Abrau-Durso, along with other Russian wine companies, are the beneficiaries of the process,” explained Mr. Titov in an interview “RIA News”. He emphasized that sales growth in the domestic wine category in 2024 could be about 25-30%.
In July, the Russian government increased import duties on wine from unfriendly countries from 12.5% to 20%, but not less than $1.5 per liter until the end of 2023. On November 9, the Russian Ministry of Agriculture publicly advocated extending the increased import duty through 2024.
Read more in the Kommersant FM article. “The wine will need aging”.
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