Russia: Wine Market Overview
In 2019, Russia was the world’s ninth largest importer of wine in both volume and value. However, the Russian Ministry of Agriculture is focused on making wine production one of the key branches of agriculture in the country. While domestic wine production is growing, so have wine imports. In 2020, an increase in excise taxes, a decrease in real incomes, and the restrictions on the food service sector due to COVID-19 led to a 10 percent drop in wine sales compared to 2019. The new ‘Federal law on viticulture and wine-making in the Russian Federation,’ aims to support domestic wine producers by reducing the amount of counterfeit wine sold, under the guise of Russian wine, support domestic producers, and introduce a number of new regulations that could potentially impact the largest bulk wine suppliers in the Russian Federation.