16.Aug .2022 18:00

Georgian wine has the highest price in Japan

Georgian wine has the highest price in Japan
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The average wine export price of Georgian wine had an increasing trend since 2017 through 2019. The pandemic, as well as, focus on less expensive markets drove average price down in 2020 and 2021. Russia and Ukraine dominate Georgia’s export portfolio, with 66% share of total exports in 2021. Since 2020 the average price of Georgian wine started to decline in these markets pushing the average export price to decline, reads a Sector Report of TBC Capital on Georgian Wine Industry.

Georgian wine has the highest price in Japan, the USA, and Germany, the report says.

Accoridng to the study, the average import price of Georgian wine per liter costs $ 6.99 in Japan, $6.38 in the USA, $5.03 in Germany, $ 3.90 in the UK, $3.73 in China, $3.28 in Baltic States and 2.78 in Poland.

In 2021, the export prices for wine posted positive YoY growth in each selected country (USA, France, New Zealand, Australia, Italy, Portugal, Argentina, Germany, Chile, Georgia and Spain), except Australia and Georgia. The reason behind the Georgian export price drop may partially be the increased volume of wine transported to the cheap export destination countries.

Average export price per selected countries was distributed as follows: USA - $7.98, France - $7.59, New Zealand - $6.29, Australia - $4.74, Italy - $4.52, Portugal - $3.82, Argentina - $3.75, Germany - $3.45, Chile - $3.28, Georgia - $2.96 and Spain $2.78.

The category of wine with less than 2 liters mainly refers to bottled wine with high prices. Therefore, the Georgian average wine export price for a bottle was lower than in selected countries, but it exceeded the average wine price of Spanish wine.