Russia to double support to local winemakers

Russia to double support to local winemakers
Russia produces some world class wines
By bne IntelliNews November 5, 2018

Russia's Ministry of Agriculture will more than double the state support to domestic winemakers to RUB3bn ($45mn) in 2019 up from RUB1.4bn in 2018, Interfax reported citing the deputy minister Oksana Lut.

In September 2018 the produce of Russian wineries accounted for over half the domestic wine sales with a 52% market share, up from 43% a year ago. 

As reported by bne IntelliNewsRussia produces competitive wines, and the government is intending to promote its viniculture following countries like Georgia into the international markets. Overall in Eastern Europe wine output in on the rise.

This year the ministry expects the grape harvest to amount to 0.54mn tonnes in Russia versus 0.537mn tonnes in 2017, out of which 0.46mn tonnes where already harvested. The southern Krasnodar region and the Republic of Dagestan are the leaders with 0.198mn and 0.162mn tonnes harvested.

According to Lut the prices of grapes have remained stable as compared to last year, with no serious fluctuations. The government is also studying an opportunity to directly subsidise setting up new vineyards, which could potentially boost wine output, she added, while noting that no imports limitations on necessary compounds and materials are being considered. 

 

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