On Wednesday, September 7, ISET hosted Dr. Jon Hanf, Head of the Wine Economics Program at Geisenheim University, Germany, who spoke about the prospects of Georgian wine in the highly competitive German market.

Ancient Greeks’ fascination with Georgia was not limited to the Golden Fleece. Legend has it that ‘Georgia’ comes from the Greek γεωργός (Georgios), reflecting the advanced land plowing practices of Georgian tribes, which distinguished them from their nomadic and yet unsettled neighbors. The Georgians (Colchians and Iberians, to be more precise) must have really made a formidable impression on the Argonauts to deserve such recognition.

Once again, Georgians across the country are preparing for the holiday season, making travel plans, crushing walnuts for gozinaki, and buying gifts for their friends and families. Gifts are an important part of celebrating the New Year and Christmas, signifying the importance of friendship and allowing us to treat our loved ones to something to start a brand new year in style.

The Georgian wine industry had a couple of very good years in 2013 and 2014, following the opening of the Russian market. Exports skyrocketed, prices of grapes followed suit. For all the talk about diversification, within just two years, Russia’s share in the total exports of Georgian wine shot up from 0 to almost 68%.

Georgia’s wine industry is heavily dependent on export to CIS countries, especially Russia. Two main short-run risks associated with the Russian market presently affect Georgian wine exports: The possibility that Russia might cancel its free trade agreement with Georgia, and the economic slowdown in Russia which could lead to reduced demand for Georgian wine.