Armenian brandy exports exceed demand at Russian market - media report
28.09.2016,
10:51
Many Armenian brandy-producing companies are now financially squeezed, since they have exported large batches of brandy to Russia, but received no money for that, Haykakan Zhamanak reports.
YEREVAN, September 28. /ARKA/. Many Armenian brandy-producing companies are now financially squeezed, since they have exported large batches of brandy to Russia, but received no money for that, Haykakan Zhamanak reports.
According to the newspaper, these are millions of dollars. The authors of the publication, referring to official statistical reports, say that exports of spirits from Armenia grew 80% in the first half of this year, compared with the same period a year before, but it doesn’t mean that these exports have been sold.
Over the mentioned period, output has built up by only 8%, and this means that producers export their products accumulated in warehouses, since sales of already exported brandy have fallen in Russia, the main outlet for Armenian brandy.
According to the newspaper, rumors are going around that the authorities force brandy producers to send their entire output outside the country regardless of whether is sold or not, and those who defy the instruction are threatened to be stripped of their licenses under various pretexts.
So, brandy-makers are stockpiling their products outside Armenia, and as a result, we have an artificial growth of exports. --0---
According to the newspaper, these are millions of dollars. The authors of the publication, referring to official statistical reports, say that exports of spirits from Armenia grew 80% in the first half of this year, compared with the same period a year before, but it doesn’t mean that these exports have been sold.
Over the mentioned period, output has built up by only 8%, and this means that producers export their products accumulated in warehouses, since sales of already exported brandy have fallen in Russia, the main outlet for Armenian brandy.
According to the newspaper, rumors are going around that the authorities force brandy producers to send their entire output outside the country regardless of whether is sold or not, and those who defy the instruction are threatened to be stripped of their licenses under various pretexts.
So, brandy-makers are stockpiling their products outside Armenia, and as a result, we have an artificial growth of exports. --0---
