THE PRICE OF ABRAU-DYURSO SHARES ROSE AFTER SUSPENSION OF SUPPLIES OF MOET HENNESSY SPARKLING WINE

THE PRICE OF ABRAU-DYURSO SHARES ROSE AFTER SUSPENSION OF SUPPLIES OF MOET HENNESSY SPARKLING WINE

THE PRICE OF ABRAU-DYURSO SHARES ROSE AFTER SUSPENSION OF SUPPLIES OF MOET HENNESSY SPARKLING WINE
The shares of the Abrau-Dyurso sparkling wine factory rose by 7.7% after news of the suspension of supplies of the French production of Moet Hennessy due to the changes in Russian legislation.

Earlier, Moet Hennessy announced a temporary stop in the supplies of products to Russia - the manufacturer needs to change the inscriptions on the labels. The fact is that the notion of ‘champagne’ can now be used only in relation to Russian alcoholic beverages. Moet Hennessy will have to label its products with the word ‘sparkling wine’

The corresponding decree was signed by Vladimir Putin on July 2.

French champagne accounted for 13% of the Russian market, while Moet Hennessy products accounted for 2%. Now foreign companies will need to obtain new certification, carry out additional research in the laboratory, introduce new barcodes and codes for the Unified State Automated Information System and develop updated labels.

By the time the exchange opened on July 5, the shares of Abrau-Dyurso had risen in price by almost 8%, reaching 215 rubles. Then there was a slight drop to 207 rubles, after which the shares went up again - up to 210 rubles.

The Abrau-Dyurso sparkling wine factory is engaged in the production of sparkling wine in the Krasnodar Territory. Among the main shareholders of the company, there are members of the family of the business ombudsman Boris Titov. Abrau-Dyurso supplies products to 24 countries, in the nearest future, the deliveries will start in the United States.


05.07.2021