Corporations Kindzmarauli: Georgian Wines Cheapen on Exports Markets

Wine sales reveal positive trends, especially on export markets, Corporation Kindzmarauli director-general Nugzar Ksovreli said. The growing demand is recorded in Scandinavian countries and England, he said.

“Negotiations are underway on several new markets, mainly in European countries and the USA. At this stage, our sales keep growing. A compared to the same period of 2020, our exports grew by 7%”, Ksovreli noted. Georgian winemakers have supposedly lowered prices on export markets. According to the official statistics, the exports from Georgia have risen by 5%, however, incomes from growing exports have declined by 2%. This signifies that Georgian wines have cheapened on international markets.

“Our company has not lowered wine prices. Our prices remain above-the-average because expensive wine sales grow particularly in total sales”, Ksovreli noted.

In the first quarter of 2021, Georgia exported approximately 19 million bottles of wines worth $44 million to 52 countries. Exports have grown on the strategic markets: China – 29% (959,040 bottles), Lithuania - 38% (245,940 bottles), the USA - 3% (237,878 bottles), Estonia - 22% (161,956 bottles), Japan - 11% (51,346 bottles) and Great Britain - 2% (117,118 bottles). JSC Corporation Kindzmarauli also operates in the tourism industry. The company owns the Kvareli-based complex Chateau Kvareli. The company is also building a new hotel in Sighnaghi. The company owns 180-hectare vineyards.