On June 27, the Armenian government approved the Brandy Spirit Export Promotion Program, aimed at reducing risks related to the liquidity of brandy spirit stocks held by economic entities and creating conditions for grape procurement.
In 2019, brandy spirit exports amounted to 14.5 million liters, but in the following years, volumes began to decline, reaching 17.1 million liters in 2020-2022.
"Since the second half of 2023, exports have increased again, amounting to about 11.4 million liters. Between 2020 and 2023, approximately 50 million liters of brandy spirit were produced from purchased grapes," the project justification states.
It is noted that with the support provided since 2020, around 60,000 grape growers have been able to continue cultivating vineyards. The new program provides state support of 100 drams (about $0.26) for each exported liter of brandy spirit, which will reduce production costs and increase competitiveness.
