Russia Announces Minimum Set Prices for Wine - 1-28-15

Country:
Russia

Report Highlights: On January 28, 2015, Prime Minister Dmitriy Medvedev signed Resolution # 63 "On Amendments to Certain Acts of the Government of the Russian Federation on State Regulation of Prices of Alcoholic Beverages". The resolution introduces minimum set prices for wine and sparkling wine (Champagne) in the Russian Federation. The resolution is expected to help ensure the competitiveness of legally-produced wine and contribute to the development of wine-making in Russia. Vadin Drobiz, Head of the Russian Research Center of Federal and Regional Alcohol Markets, stated that minimum pricing will reduce the amount of illegal wine on the Russian market by 25-30 percent in the short-term.

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