site.btaWine Prices Expected to Go Up Slightly in 2024

A slight increase in Bulgarian wine prices is expected in 2024, Chair of the Board of the National Vine and Wine Chamber Yordan Chorbadzhiyski told BTA on Wednesday. The increase ranging between 2 and 3% will be the result of the higher price of grapes in 2023, when unfavourable weather conditions in Bulgaria caused poorer harvest.

Chorbadzhiyski said: "The grapes harvest was poorer, however, the grapes quality was good. The grapes price was 10-15% higher. [...] Our calculations show that there will be an appreciation of Bulgarian wine, but it will not be a shock." He added that the trend from the last few years remains to have white and rose wines gain popularity at the expense of red wines on the domestic market.

Speaking to reporters in Pomorie, on the Black Sea, Chorbadzhiyski said that Bulgarian subsidies in the wine sector should be equalized with European ones, as this is the only way to have the cost of production fall. This should make the Bulgarian wine sector more competitive on the global markets, he said.