The cessation of imports of wines from Europe may negatively affect buyers in the Russian Federation

Published 2024년 6월 14일

Tridge summary

Igor Karavaev, chairman of the Association of Retail Trade Companies (AKORT) in Russia, expressed concerns about the sharp decline in wine imports from European countries, stating that it could worsen the situation for buyers and that protective duties are justified if the market is saturated with high-quality alternatives. He highlighted that retail chains are expanding supplies of wine from countries like Chile, Argentina, South Africa, and Georgia, and that there is a systemic shift in demand towards Russian wine and products from friendly countries. AKORT supports stimulating the consumption of Russian wine but emphasizes the need for quality. The introduction of protective duties may not have an effect due to the high excise taxes, which could block access to the shelf for wines from European countries. AKORT also opposes the online sale of alcohol in Russia due to unresolved issues and lack of product control in the online environment.

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Original content

A sharp decline in imports of wines from European countries to Russia could worsen the situation for buyers; it takes time to saturate the market with affordable and high-quality products, Igor Karavaev, chairman of the presidium of the Association of Retail Trade Companies (AKORT, unites the largest Russian retailers), said in an interview with TASS. “A sharp blocking of European wines’ access to shelves could worsen the situation for Russian buyers. Protective duties are justified if the market is saturated with a high-quality alternative, and this takes time,” Karavaev said. He pointed out that retail chains are currently actively expanding supplies of wine from countries such as Chile, Argentina, South Africa, Armenia, Azerbaijan, Georgia, and Serbia. “We expect that demand will continue to systematically shift towards Russian wine and products from friendly countries,” the agency’s interlocutor added. AKORT supports stimulating the consumption of Russian wine - Karavaev noted ...

Source: Kvedomosti