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Russian importers warn that prices for wines from Chile and Argentina will rise by 30%

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Prices for wines from the countries of the New World in Russian stores in 2023 may increase by 30% due to additional difficulties with logistics, Kommersant reported, citing the forecast of Fort wine trading company.

The cost of wines, according to Fort, will be affected by new requirements to reduce carbon dioxide emissions from shipping, as well as the energy crisis. The company believes that prices will rise most noticeably in the segment of inexpensive wines, for example, from Chile and Argentina.

Dmitry Isachenkov, development director of alcohol distributor Ladoga, said that difficulties with supplies from the New World began during the coronavirus pandemic and worsened after some transport companies left Russia in March 2022. Because of this, the cost of transportation has increased several times. Isachenkov noted that the poor grape harvest in Argentina and Chile does not add optimism. Due to political complexities and rising prices, according to him, the share of wines from the New World in the Russian market will fall by 25-30%.

The Beluga Group, on the contrary, believes that the increase in the cost of shipping will have little effect on prices, but the share of New World wines will decrease within 10%, mainly due to the ban on supplies from the USA, Australia and New Zealand.

General Director of AST Leonid Rafailov said that he does not expect a shortage of wines from the New World in the mass segment. Luding Group, Russia’s largest wine importer, said it increased its shipments of wines from Chile by 22% in the first half of the year, and by 59% from Argentina, yoy.

After the start of the war in Ukraine, the United States and Australia banned the supply of wine to Russia, and New Zealand introduced partial restrictions.

According to Ladoga, in the first quarter of 2022, Chile, South Africa and New Zealand – the largest suppliers of wine to Russia among the countries of the New World – reduced their imports by 19%, 32% and 30%, respectively.

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