OREANDA-NEWS. August 07, 2014. This is stated in the study "Analysis of financial situation of the wine industry in the context of the Russian embargo on Moldovan wines", prepared by the project USAIS/CEED II.

During the "round table" with participation of representatives of industry, industry associations and responsible government agencies the author of the study Andrei Crigan informed that in 2013 supplies of Moldovan wine production in Russia could have reached USD 52,6 million. However, an embargo led to deterioration of financial situation of wineries, as well as the pressure of credit liabilities on the economic agents of the industry.

So, only 18 companies which share in 2012-1013, accounted for 50.5% and 44.7% of exports of Moldovan wines, respectively, last year suffered losses of about 15 million. It is 82% of all losses of wine industry in the last year. However, the expert notes unfavorable market conditions for other traditional markets: the conflict situation in Ukraine and decline of sales in this market; foreign exchange restrictions in Belarus that led to the delay of payments for the export deliveries; depreciation of the national currency in Kazakhstan, which led to a decline in sales of Moldovan wines on the market, etc.

The expert also notes that in the first three months of 2014, this trend is maintained. So, the total volume of sales of wine-making enterprises of Moldova amounted to 428,8 million lei, which is almost 25% less than at similar period of the last year. In January-March 2014, the export of Moldovan alcohol products declined by 28%. In particular, exports to CIS decreased by 2 times - up to USD21 million (due to the Russian embargo and reduction of supplies to Ukraine).