Practically everything on the global market is getting more expensive in the post-pandemic period, the
only product that is getting cheaper is wine.
According to Chairman of
the National Wine Agency Levan Mekhuzla, during the pandemic, prices
are declining due to surplus of unsold wine on the world market.
“This problem is faced by the global
wine industry. Many countries were closed and wine sales were resumed in the
second half of 2020 that caused wine surplus. Georgia is not a large producer
by world standards, our wine doesn’t have any impact on global prices and we have to adapt to new
conditions, ”he says.
Levan Mekhuzla notes that compared
with 2019, Georgian wine prices have decreased on average by 10-20%, only diversification
of sales markets can improve the current situation by intense popularization of
Georgian wine abroad.
Winemakers, though, do not consider
the current situation a problem believing that price risk is minimal, and talks about the
need of diversification of sales
“We’ve managed to keep prices. The
price of our wine did not rise but practically did not drop, at this stage, a bottle of wine costs GEL 7-10
euros. We sell about 20 wines to Europe and Japan. Our sales are diversified,
but the situation will improve when all wine companies diversify sales markets,"-
Koka Archvadze, head of the Tsinandali Estate wine company, notes.
Tamaz Omanazdze, Director of Khomli’s
Cellar company, does not consider prices as a problem.
“Prices are not that important,
especially for us. We’ve agreed on the sale of our wine at a prestigious London liquor
store for £ 800 per a bottle. But lately
more and more our European colleagues say that the quality of Georgian wine has
got bad. If this trend is not stopped, the sales of Georgian wine in new
markets will collapse, ” the businessman adds.