Financial Crisis Shatters Bulgaria's Wine Exports to Russia

Business | February 9, 2009, Monday // 00:00| Views: | Comments: 16
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Bulgaria Financial Crisis Shatters Bulgaria's Wine Exports to Russia: Financial Crisis Shatters Bulgaria's Wine Exports to Russia Bulgaria's wine exports to Russia are severely affected by the global financial crisis. Photo by Yuliana Nikolova (Sofia Photo Agency)

Bulgaria's wine exports to Russia dropped by 45% in 2008 compared to 2007, according to preliminary data of the National Vine and Wine Chamber.

The data was announced by its Chair, Plamen Mollov, in an interview for the Darik Radio on Monday.

Mollov pointed out that the only reason for the decline of the Bulgarian wine exports to their largest market was the failure of Russian distributors to operate with bank credits because of the effects of the global financial crisis.

The prognoses of the National Vine and Wine Chamber do not envisage a recovery of the Russian market for Bulgarian wines in the coming months.

According to Mollov, the crisis in the Russian market, where two-thirds of Bulgaria's wine exports usually go, will cause a restructuring of the Bulgarian wine industry.

In his words, the largest wine producers will be hit hardest whereas the small local wineries created with EU funds will be able to compensate their losses with an aggressive marketing strategy and additional business activities such as wine-tasting tourism.

Mollov predicted some Bulgarian wine producers might merge or might be bought out by large financial companies as some wine factories were already offered for sale in informal talks.
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» To the forumComments (16)
#16
resipsaloquitur - 22 Feb 2009 // 00:56:53

My dearest,highly appreciated Mr.WESTWON,

there is NO reason to offend the posters on this forum,calling us prolletaria.

How I noticed on your profile,you live in RIVERSIDE,CA,which is NOT

a FORTRESS of the SUPERRICH.

I lived for years in California...both Northern and Southern California and I have

been often in your area.

If you tell me you own a house in New Port or Costa Mesa...that is different

issue.

Concerning California wines...I have been in Napa Valley and tried them...

regrettably I am NOT a big wine fan...usually I use it for my Christmas goose.

#15
CreepyS - 21 Feb 2009 // 22:26:11

haha, nellie, the joke is not old at all - thats why many people here drink mostly "vodka" - they know its only alcohol (of course not from potatoes or any natural process), essence, water and sugar so there is no way to get poisoned as much as if you drink "rakia" or "whisky" or whatever it is called.

#14
NellieotAmerica - 21 Feb 2009 // 22:13:56

Reminds me of the old joke about the old communist wine maker who is dying so he calls his son to his death bed and he says:"Son, I want you to know that wine can also be made from grapes."

#13
CreepyS - 21 Feb 2009 // 22:12:04

good one, JKS;)

#12
CreepyS - 21 Feb 2009 // 22:08:10

Speaking of BG wine dont forget that good BG wine produced from grapes etc does exist but it is much less than the total cosumption and export of BG wine - our guys cheat a lot as usual and some of the so-called BG wine is actually a mix of cheap wines coming from anywhere, additives etc. so its not surprising that a really good BG wine is rare.

One can calculate the existing wineyards, many of which are old and produce one third of what they used to and others are too young and didnt reach full capacity, and I think it will become clear that there is no way to produce as much BG wine from that as BG exports and consumes.

#11
NellieotAmerica - 21 Feb 2009 // 21:06:29

@westwon

"I am a Bulgarian capitalist living in California, and unlike most of the proletariat on this forum am a connoseur in both American and Bulgarian wines."

Good for you, dude! Now tell me - where can I get some good Bulgarian wine in the US? On the East Coast? Or maybe I should ask what Bulgarian wine that can be found in the US is any good?

#10
JKS - 21 Feb 2009 // 19:22:17

Are you sure it is not 5.5% or even 5.7%?

I have even heard the number 5.5586% thrown around.

#9
westwon - 21 Feb 2009 // 18:55:01

I am a Bulgarian capitalist living in California, and unlike most of the proletariat on this forum am a connoseur in both American and Bulgarian wines. In my opinion approximately 90% of the wines produced in California are of excellent quality while only only 5.6% of Bulgarian wine comes close to that.
At the end of the day California wines have won many more international wine competitions and are affordable for the quality; expect American wine to come to Bulgaria soon.

#8
resipsaloquitur - 12 Feb 2009 // 01:28:46

DUTCH,

YOU ARE NOT BETTER AS MOST GERMANS...

you do NOT UNDERSTAND when I have been JUST and SIMPLY

cynical...or JUST kidding!

IT WAS MENT TO BE A JOKE,you...

So...the problem of competition from NAPA Valley and other American wines

or Mexican still remains.

#7
xNELLIEx - 11 Feb 2009 // 17:24:12

Dutch

I know what you mean. I feel like that when I see Barney Frank speaking on TV. What a stupid, ugly, liberal pouf!!! I hate him sooo much, I start itching to do something bad to him. Then I imagine him sucking someone's schlong or getting it up his fat, old arse by a big black dude and it makes me feel so much better!

#6
Dutch - 11 Feb 2009 // 16:52:52

I did not get Resi's joke as it existed in another topic which I hadn't read yet at the time I replied in this topic. You'd be surprised what kind of nonsense some people are capable of producing and in fact there's little that could surprise me in cyberspace, but when I read nonsense my fingers start to itch to reply. Sometimes my impulsive nature kicks in not so convenient and makes me look like a complete a$$ :-) Ahh, well, sh!t happens :-)

#5
xNELLIEx - 11 Feb 2009 // 13:35:32

Dutch

Are you serious? Or did you not get resi's joke?

Resi is making fun of me because I said Bulgarian men spoil on the flight over to the US. She is using my logic in reference to wine. It is just a joke, we all know that neither wine nor men spoil from travel on an airplane. Sheesh........

#4
Dutch - 11 Feb 2009 // 09:50:49

"until the BG wine arrives in USA it will become sour!"

Are you somewhat confused here Resi and did you mean to say milk instead of wine? Milk may go sour when being transported not refrigerated for more than a couple hours, wine definitely not. Geezz....I have some bottles of BG wine saved for years and they only get better. This only applies when buying good BG wines and not upgraded vinegar though.

Distance and time (in the sense of hours/days/weeks) are not really issues when it comes to wines. Appreciation for something/anything coming from BG is what lacks in western Europe and the USA, that's the only reason it's a b!tch to find BG wines abroad. French wines can be found all over the globe (and don't go sour).....they are (self) proclaimed to be the benchmark to many people when it comes to wine....however there are many BG wines that can very easily compete with these French wines.

#3
xNELLIEx - 11 Feb 2009 // 01:16:53

resi

"until the BG wine arrives in USA it will become sour!"

I have had Bulgarian wine in the US. I've had wine from even further away, like South African and Australian wine.

#2
resipsaloquitur - 11 Feb 2009 // 00:17:17

Hello NELLIE,

until the BG wine arrives in USA it will become sour!

DO YOU ACTUALLY REALIZE HOW MANY MILES LIE BETWEEN BG AND USA?

Beside this OBAMA +protegees are sayin:"AMERICAN PEOPLE IF YOU LOVE

AMERICA BUY AMERICAN!"

Therefore you will see wine from NAPA VALLEY or Sonoma county on your

table,sorry!

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