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Moldova to Resume Previous Wine Exports by 2009
Russia’s ban on supplies of Moldova’s wine and wine product will have long-time aftereffects, analysts of the International Monetary Fund forecast. Moldova is predicted to revive the size of the 2005 wine exports ($313 million) only by 2009, RBC announced with reference to the IMF report on Moldova’s progress in implementing the IMF agreement.
For Moldova, the effect of Russia’s ban on its wine was at least devastating – Russia has traditionally accounted for 80 percent to 90 percent of all wine exports of this country.
The chances of prompt export revival are slim. Even effectively resuming the exports in the near term won’t suffice. The market share of Moldova is bound to narrow, as the country’s reputation has suffered from the crisis and its share on the Russian market has been taken by other producers.
The conclusion of the IMF analysts is the long-range aftereffects of Russia’s ban on Moldova. Even though the IMF forecasts the wine exports to Russia to step up by 30 percent on year in 2007, it will be just a third of the 2005 size.
Moreover, because of the tastes and trading policy in Europe, Moldova will hardly be able to shift to its markets, according to IMF.
www.kommersant.com
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