Prices of Imported Wine Can Go Up a Third

Prices of Imported Wine Can Go Up a Third

Within the following 3 or 4 months, retail prices of foreign wine products is expected to increase by 30%, those of foreign strong alcoholic beverages – by 20%. This forecast, which was made by Pavel Shapkin, Chairman of the National Association for Consumer Rights Protection, in his commentary to RIA Novosti, is based on the rouble-dollar rate (70:1).

According to the expert, prices for imported alcoholic beverages are unlikely to change in the near future since the products were supplied uder the current contacts, which importers usually conclude 6 month before products hit the shelves.

Later imported wine prices will be under the influence of the steady rouble weakening through the growth of currency expences, borrowing costs, customs duties tied to product prices and exise duties that have increased almost by 80% since the year began.

Speaking of strong alcoholic beverages, duties for them are not tied to their customs values, and the relevant customs duties were indexed less (by about 5%). Therefore, the gap in exchange rates will be the primary factor to cause the increase in their prices. In this regard, we would like to remind you that the alcoholic beverages industry was the only growing macro-industry in the Russian FMCG market last year.

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