Crimean Wine Industry to See Boost From Russian Funds

 


A lot of things are possible with the right amount of money. 
 
That's what the Republic of Crimea wine region is hoping for after the Russian government recently approved an investment of more than $500 million in the winemaking region. 
 
The infusion of money is part of a plan in which the government hopes to increase the region's production from its current level of 83 million cases per year to 600 million cases per year. In addition to increased production, Russia's plan for the region includes a growth in vineyard area from its current 37,300 hectares to 100,000 hectares. The goal for the fulfillment of the growth projections is 2025. 
In a recent statement, Russian Prime Minister Dmitry Medvedev said the infusion of cash into the will provided a boost to the area's wine and tourism industry in the midst of recent military conflict in the area.
 
Russia's Research of the Center of Investigations of Federal and Regional Alcohol Markets (CIFRRA) hopes the region will be able to stave off recent numbers that project 40 percent of Crimean winemakers will close their doors within the next two years. 
 
“Crimea can turn into the  largest wine making region of Russia after significant investments,” CIFRRA said.
 
Long an area of military conflict, Crimea is a peninsula nearly surrounded by the Black Sea. The region is also known as the Tauric Peninsula. The area has ancient winemaking roots dating back to the fourth century BC. The region is known for its sparkling wines.
 
Massandra, located on the southern coast of Ukraine, is home to the premier state-run winery in the region and stands to benefit from the approved funding.
 
“Today, the Massandra winery has one of the largest wine collections in the world that numbers over a million vintage wine bottles,” Ukraine's official tourism website says, “There are several truly unique items: for instance, Sherry de la Frontera, produced in 1775 and considered to be the oldest wine in the world.”
 

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