ARMENIA: YEREVAN CUTS BRANDY PRODUCTION
EurasiaNet
Dec 1 2009
NY
Production of Armenian cognac, a household alcoholic beverage in
former Soviet states, shrank by almost 50 percent during the first
10 months of 2009 compared with figures for the same period during
the previous year.
Armenian winemakers pinned the blame for the production drop on the
global economic meltdown, the Internovosti news service reported on
December 1.
Some 94 percent of Armenian brandy exports go to other ex-Soviet
republics, first among them Russia, according to the Armenian
National Statistics service. But the economic crisis has hamstrung
the purchasing power of the Russian market, the main source of income
for Armenian farmers.
Production for the first ten months of 2009 stood at 7 million liters.
Brandy producers hope that a recent decrease in the price of grapes
will help them cut production costs, reduce the price and attract
thriftier customers, the Arminfo news agency reported.