Cotnari: Wine industry down 10% in first half

Local wine industry, evaluated in 2008 at approximately 500 million euros, reported a weakening of its growth pace by 10% year-to-date, on reduced purchasing power, according to Razvan Serghiuta, director at Cotnari winery.

“According to our calculations, the industry dropped 10% in first half, as consumers have cut their expenses on food and the migration from key-accounts segment to traditional retail has melted down”, said Razvan Serghiuta.

Early this year, Cotnari winery projected a 10% increase in turnover for 2009, but recently it revised projection and expects to keep business at 2008 level.

The company reported a turnover of 30 million euros for 2008. Cotnari’s first-quarter sales stayed within the same ranges as last year, the main sales drivers being Trancusa and Grasa de Cotnari.

The company has recently completed the enhancement process of its barrel storage capacity and of wine aging space. Cotnari’s storage capacity is currently at 20 million barrels.

Romania’s wine industry stood at 500 million euros and 6.3 million hectoliters.

The wine imports in first quarter was of 8.4 million liters, while in first-quarter 2009, Romania imported 2.6 million liters of wine, down by almost 60%. As for exports, the country exported 4.1 million liters in Q1 2008, and 3.4 million liters in Q1 2009.

Cotnari exports its wines in countries such as Italy, Spain, Germany, UK, Greece, Canada, United States of America, and Russia.

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