Sparkling wine production in Russia increased by 28% year-on-year (y/y)in 9M24 to 11.15 decaliters, Tass reported citing the data by the Federal Service for Control over Alcohol and Tobacco Markets (Rosalkogoltabakkontrol).
As reported in detail by bne IntelliNews, once known for their vodka affinity, rising incomes and changing consumer preferences have caused Russians to increasingly embrace wine as their alcoholic beverage of choice.
State subsidies and a complex geopolitical climate have moved domestic producers to the forefront, but a turbulent history and concurrent antialcohol campaign are hindering their potential. Russia’s $3bn domestic wine industry is projected to see an explosion in the coming years.
In 9M24 grape wine production increased by 8% y/y to 24mn decaliters. Vodka distillation inched up by 1.6% to 55.74mn decaliters, brandy production added 17% to 6,900 decaliters. The output of low-alcohol beverages plummeted by 40.5% to 9.3mn decaliters.
Overall, Russia produced 132.8mn decaliters of alcoholic beverages in 9M24 (not accounting for beer, beer-based beverages, cider, perry and mead) up by 0.6% y/y. Distillation of alcoholic beverages with the strength above 9% increased by 7.5% y/y to 82mn decaliters.
Russia’s President Vladimir Putin convened an economic cabinet meeting for the second time in a month amid growing concerns over the country's faltering economic momentum, as reported by RBC ... more
More than 30 Ukrainian drones targeted Russia’s biggest oil terminal of Primorsk overnight on September 11–12, The Moscow Times reported on September 12. A pumping station caught fire as a ... more
The board of the Central Bank of Russia (CBR) at the policy meeting of September 12 resolved to cut the key interest rate by 100 basis points from 18% to 17%, according to the regulator’s press ... more