Report Highlights: Following an unfavorable 2014 crop year, in 2015 the wine industry had a highly successful year with an abundant grape harvest and double digit growth in wine production. Consumption rebounded and wine imports saw a record growth of about 80%. The biggest challenge for the industry was a shift in export strategy towards more demanding foreign markets. Wine exports declined by 7% and the relative share of exports to Russia was sharply reduced to be below 15% of total exports.
The forecast for 2016 is for another good year due to the favorable weather to date, especially in the summer, with warm temperatures and sufficient rainfall in production regions. The grape crop is currently estimated to exceed 200,000 MT, below the exceptional crop of 2015 but with good quality characteristics. The projection is for the quantity used for wine making at commercial wineries to increase at the expense of home-made wine. Imports are estimated to maintain growth with the first five months of the year already 19% higher than in 2015. Exports are likely to stagnate due to favorable local demand and export marketing challenges. As of May, exports declined by 24%.
|Wine Annual_Sofia_Bulgaria_9-13-2016.pdf||380.34 KB|