YEREVAN BRANDY PURCHASES 7% MORE GRAPES IN 2008
Interfax
Nov 11 2008
Russia
Yerevan Brandy Company (YBC) increased grape purchases 6.9% to 31,000
tonnes in 2008, the company told Interfax.
Greater demand for YBC products – and the need to maintain quality
and inventory levels – drove the increase.
YBC affiliates paid an average of 147 drams per kilogram for grapes,
up from 140 drams per kg in 2007. The company spent a total of $15.2
million on grape purchases this year.
It was reported earlier that the total amount of grapes available
for sale in Armenia declined by 5.9% in 2008 to 136,000. YBC was the
largest buyer.
French Pernod Ricard purchased YBC in May 1998 for $30 million.
The exchange rate on November 11 was 304.77 drams/$1.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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