News

Wine supplies from the EU to Russia have decreased by 40% in two years

Other Wine
Published Apr 14, 2024

Tridge summary

The European Union has experienced a significant downturn in wine exports to Russia, with a 40 percent decrease from the 2022-2023 level, resulting in a drop of 70 million liters to 190 million liters. This decline is largely due to Russia's efforts in import substitution, especially in its southern regions. Despite the overall downward trend observed since the 2018-19 agricultural year, Latvia has surprisingly become the top exporter to Russia during the August-January 2023-24 period, even though its exports fell by 44.35 percent. Other key EU exporters like Lithuania, Italy, Poland, and Spain have also seen changes in their export volumes to Russia, reflecting the challenges and shifts in the wine export landscape.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Exports of wines from EU countries to the Russian market over the past and remaining periods of this year decreased by 40 percent from the 2022-2023 level. RBC reports this with reference to the latest data from the European Commission (EC). In exact figures, this amounted to 190 million liters, or 70 million less. The reasons for this are not explained by either the EC or various analysts. This is probably due to the active import substitution of wine and wine products in our country, especially in the southern regions. The European Commission also provided data from the 2018-19 agricultural year onwards. Let us recall that the agricultural year begins for certain crops in certain countries when their sowing begins. In this case, for grapes the countdown is from August to January. Initially, the lowest volume of supplies was recorded - 100 million hectoliters. In the 2019-20 agricultural season, it increased by 17.5 percent or to 120 million, in the next two – by 9.1 and 3.6% to ...
Source: Rosng
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