The conflict in Ukraine will certainly have consequences on the sales of wine and spirits producers, accustomed to exporting to Russia. But it is probably too early to measure them. In any case, the professionals keep an eye on the region. Illustration in Asia with the representative of a Grand Cru Classé of Saint-Émilion.
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Last year, Russia imported nearly 200 million euros of wine from France. This only makes it the 15th market for French producers, but the outlet is not negligible for all that. With 2,000 hectoliters per year, Russia is the 52nd destination in volume and the 60th destination in value for Bordeaux wines.
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Russia was a more buoyant market in the past, but today it is more confidential, confirms Frenchman Xavier Jean, Singapore representative of Couvent des Jacobins, a Saint-Émilion grand cru classé:
“For us, explains the Frenchman, it has a fairly limited direct impact because we are not very present in Russia, it is less than 5% of our volumes. On the other hand, there is an impact on consumer confidence which will impact customers’ customers and all stakeholders in the sector.” According to the CIVB, the Bordeaux Wine Committee, no trading house, nor any owner of the Bordeaux region, is in any case sufficiently specialized in the Russian market to suffer from the consequences of the conflict in Ukraine.
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The Couvent des Jacobins estate in Saint-Emilion
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