YEREVAN BRANDY BUYS 4% MORE GRAPES IN 2007
Russia & CIS Business and Financial Newswire
October 31, 2007 Wednesday 9:49 AM MSK
The Yerevan Brandy Company (YBC), a unit of the Pernod Ricard group,
procured 28,029 tonnes of grapes this year, 3.6% more than in 2006,
general director Cedric Retailleau said at a press conference on
Tuesday.
The average purchase price was 140 dram per kg, the highest offered
by any buyer in the country, he said.
The company invested $12.3 million in grape procurements in 2007,
he said.
YBC makes seven brands of brandy that it sells in 20 countries.
The head of crop farming at the Agriculture Ministry, Garnik Petrosian
said at the press conference that Armenia harvested 144,000 tonnes
of grapes this year, up 35.8% from 106,000 tonnes in 2006.
About 30 companies buy grapes in Armenia, including five or six that
specialize in brandy production, Petrosian said.
Armenia now has about 17,000 hectares of vineyards, and this area is
expanding by 1,500 hectares annually.
The official exchange rate for October 30 was 324.92 manat/$1.