During a conversation with Armenian News-NEWS.am, President of the Union of Winemakers of Armenia Avag Harutyunyan said wine sales in the domestic market have dropped by 60-70%, and the crisis may lead to 10-15% drop of wine prices in Armenia.

“As far as export is concerned, the profitability of goods (primarily brandy) exported to Russia which covers 80-90% of total export, has dropped by nearly 15% due to shifts in foreign currency. Overall, profitability has dropped by 30% in all foreign markets. The volume of exports to Russia has dropped by nearly half since the large restaurants of the country aren’t operating. There is a decline in the volume of export in the European market as well,” he stated.

Avag Harutyunyan emphasized that wine is a product that always needs to be under care and that problems are currently emerging since there are difficulties with salaries amid the drop of sales.

According to him, another problem is that, on the background of the low level of realization of products, winemakers haven’t emptied even 30% of the barrels in which the products are kept, and this might make it hard for farmers to buy grapes.

Harutyunyan says it would be appropriate to create opportunities to obtain vineyards through the scheme that is used when mortgage loans are granted for purchasing real estate.