Georgian wines cost the highest in US

Business Materials 10 August 2019 12:02 (UTC +04:00)

Baku, Azerbaijan, August 10

By Tamilla Mammadova – Trend:

The highest price for Georgian wine is paid in the US, where a bottle costs an average of $4, while in other countries it does not exceed $2 - $2.3, said the head of the National Wine Agency of Georgia Levan Mehuzla, Trend reports with reference to bizzone.info.

According to him, the cheapest Georgian wine is sold in Russia and China, which is explained by the low national culture of wine consumption.

As for the revenues of the Georgian wine industry, 55 percent of them are accounted for Russia, despite the fact that in quantitative terms the share of Russia is 60 percent.

“Such a difference is connected with lower prices for Georgian wine in Russia. In a certain sense, the Chinese market is similar to the Russian market, since it is completely new not only for Georgian wine, but also for winemaking in general. When the Chinese market grows in terms of the culture of wine consumption, then, accordingly, prices will rise,” said Mehuzla.

In the seven months of 2019, Georgia exported 47.2 million bottles (0.75 liters) of wine to 47 countries, which is four percent more than in the same period in 2018.

The top ten exporting countries include: Russia (29.13 million bottles), Ukraine (4.89 million bottles), China (4.24 million bottles), Poland (2.25 million bottles), Kazakhstan (1.90 million bottles), Belarus (1 million bottles), Latvia (841,236 bottles), The US (388,038 bottles), Lithuania (372,918 bottles) and Estonia (357,866 bottles).

Revenues in this sector for the reporting period amounted to $31.5 million (an increase of 57 percent).