Imported wines under 700 rubles may disappear from the shelves of Russian stores. This is made possible by increased excise taxes and import duties, according to Simple Wine. Against the background of rising prices for foreign wines, prices for Russian wines will also rise.
The president of Simple Wine, Maxim Kashirin, saw the risk of imported wines costing up to 700 rubles disappearing from the shelves of Russian stores. He told RBC about this. According to Kashirin, this may be due to the increase in excise taxes and import duties.
In July 2023, the customs duty rate for wines up to 5 euros has already increased from 12.5% to 20%. Furthermore, according to the expert, the final cost of wines is affected by inflation in Europe, the price of packaging, transportation and electricity.
Kashirin noted that the process of “extinction” of the affordable range of imported wines will begin in 2024 and end in early 2025.
Following the increase in wine import duties, the excise tax rate will increase several times. From May 1, 2024, it will increase from 34 rubles to 108 rubles per liter for still wine, from 45 rubles to 141 rubles per liter for sparkling wine.
Author:
Kirill Bilyk
Source: RB
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