2 Nov 2009 14:35

Armenian cognac production drops 40% in 9 months

YEREVAN. Nov 2 (Interfax) - The Armenian cognac production dropped by 40.4% to 6.801 million liters in January-September 2009 compared to the same period in 2008, the national statistics service said in a report.

Cognac production growth rates started to decrease, reaching a peak of 50.4% in the first half of 2009.

The main reason for this slump is the global financial crisis which led to a reduction in Armenian cognac consumption on its traditional markets, Russia and Ukraine.

Domestic production of liqueurs and spirits in the first nine months of 2009 dropped by 1.4% to 8,299,400 liters. Wine production rose by 12.7% to 2,330,700 liters, sparkling wines dropped by 9.4 % to 144,800 liters.

Beer output remained the same in the reporting period and totaled 26,413,800 liters.