Interfax
Aug 20 2004

Armenia to up cognac exports 15% in 2004

YEREVAN. Aug 20 (Interfax) – Armenia will increase its cognac exports
15% in 2004, director of the Armenian Agriculture Ministry’s
agribusiness development center Armen Davtian predicted in an
interview with Interfax.

Armenia’s annual cognac exports have increased almost 550% since
1999, reaching 10.8 million liters in 2003, Davtian said. The country
exported 5.5 million liters in the first half of 2004, roughly 15%
more year-on-year, he said.

Around thirty countries now import Armenia’s cognacs, and these
exports account for more than 90% of production volume. Russia buys
80% of the cognac Armenia exports.

Davtian said Armenia now has more than ten companies involved in the
industrial production of cognac and cognac alcohol. The biggest are
Yerevan Cognac Plant (owned by the French company Pernod Ricard), the
Armenian-Cypriot company Great Valley and Yerevan cognac, wine and
vodka complex Ararat, owned by the country’s multi-business outfit
Multi Group.