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Wine importers continue to buy despite crisis

Submitted by Anton Moiseenko on Wednesday, 20 May 2009No Comment

While top wines are being the most affected by the decrease of demand, Anatoly Korneev of Simple Wine Co, one of the leading Russian wine importers sees no reasons to panic – while restaurants hit the most, wine importers continue to buy. The reasons for his optimism are the rouble / US dollar / Euro rate that has stabilized in March 2009 after a significant devaluation (we remember US dollar worth 25 roubles in August 2008, being 35 roubles in May 2009). He also pointed that the company actually increased the purchase of Bordeaux 2008 1-er and 2-me Grand Cru wines as well as some 3-4-classe chateaux. The top management believes that these vintages will come back to full demand right after the end of the turmoil – if not today, then tomorrow. In comparison to many other countries Russia is still the market for European wines, he underlined in his recent interview to Decanter magazine.

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