YEREVAN BRANDY PURCHASES 7% MORE GRAPES IN 2008

Interfax
Nov 11 2008
Russia

Yerevan Brandy Company (YBC) increased grape purchases 6.9% to 31,000
tonnes in 2008, the company told Interfax.

Greater demand for YBC products – and the need to maintain quality
and inventory levels – drove the increase.

YBC affiliates paid an average of 147 drams per kilogram for grapes,
up from 140 drams per kg in 2007. The company spent a total of $15.2
million on grape purchases this year.

It was reported earlier that the total amount of grapes available
for sale in Armenia declined by 5.9% in 2008 to 136,000. YBC was the
largest buyer.

French Pernod Ricard purchased YBC in May 1998 for $30 million.

The exchange rate on November 11 was 304.77 drams/$1.

From: Emil Lazarian | Ararat NewsPress