Business news from Ukraine

Experts club hosted final seminar-tasting of Ukrainian wine and vintage drinks

Last Friday, the Experts Club analytical center hosted the final seminar-tasting of Ukrainian wine and vintage drinks. This event once again brought together representatives of the Ukrainian wine industry, professional tasters, retail experts and media representatives.

Maksim Urakin, founder of Experts club, opened the event, emphasizing the importance of reviving and developing the culture of wine and vintage drinks in Ukraine.

“The Ukrainian wines presented at today’s tasting are limited editions that have not yet been presented to the general public, but have already been recognized at both Ukrainian and international competitions. Our events are held to support the development of domestic winemaking and spirits production, which will allow Ukrainian products to regain their leading positions, primarily in the domestic market, which, unfortunately, have been lost in recent years,” said Urakin.

The founder of Experts club also emphasized that a systematic approach to supporting Ukrainian producers will also lead to their entry into foreign markets and help the development of our economy as a whole.

In his turn, Andriy Strelets, General Manager of Knyaz Trubetskoy, emphasized that despite the destruction his winery suffered as a result of military operations, production continues to revive and develop.

“The wines that are presented at today’s event are new limited collections of 2022. And this is a sign that our winery is resuming production and working to expand its range. We have decided to change the name of our brand to Stoic Ukrainian winery, as it should symbolize the resilience of Ukraine in these difficult times,” said Strelets.

Sergiy Parkhomchuk, Marketing Director at PrJSC Knyaz Trubetskoy, spoke about the company’s new projects.

“Dnipro Hills is a new Ukrainian wine created in cooperation between STOIC Ukrainian winery and Chateau Pinot winery. At a critical moment in the 125-year history of our winery, Chateau Pinot provided us with invaluable support.

Representatives of a new industry for Ukraine – the production of craft distilled beverages, Oleksandr and Lesya Slobodian, presented their own products, including whiskey, calvados and grappa made in Ukraine. CraftSAD is a family-owned distillery with a unique history and philosophy, created by the Slobodian couple. Even after the loss of their laboratory and home during the war, they did not give up, but found a way to continue creating unique signature drinks for their fans. Their work is based on two key principles: the use of local raw materials (grains, berries, fruits) and the priority of quality over quantity. This provides CraftSAD with the opportunity to produce products that preserve the unique aroma and taste of natural ingredients and guarantee the uniformity of each batch.

“The event presents the author’s drinks that are already loved by many. “Zapechena” is based on an old Cossack recipe, a spicy honey brew that will first surprise and then impress with its richness of flavors. Aged for more than 3 years, the exquisite whiskey and calvados are truly worthwhile drinks, of which there are very few left after the house was destroyed,” said Lesia Slobodian.

In general, the event emphasized the importance of supporting Ukrainian wine and spirits producers and promoted the popularization of unique domestic alcohol brands.

The partner of the Experts club was Myasnyi Rai.

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From November 1, it is forbidden to import alcoholic products to Ukraine with labels “Cognac”/”Cognac”

Imports to Ukraine of foreign alcoholic products labeled “Cognac”/”Cognac” have been suspended since November 1, 2022, as this name no longer meets the technical conditions for this drink, provided for by the Ukraine-EU Association Agreement.
As reported on the website of the Ministry of Agrarian Policy and Food of Ukraine on Tuesday, this agreement, which entered into force on September 1, 2017, provides for mutual protection between the countries of a certain number of geographical indications (GI) in Ukraine, among which there is Cognac.
Thus, from November 1, the use of the name “Cognac” / “Cognac” in Ukraine for products originating from third countries no longer meets the technical requirements for the production of the drink “Cognac” and is now prohibited on the territory of Ukraine.
It is recalled that on January 24, 2022, as a result of the adoption of new regulations that include GI protection, the name “Cognac” / “Cognac” was included in the customs register, which is a prerequisite for the introduction of GI protection on the territory of Ukraine.
In addition, a transitional period has been established so that importers can change the labels on their products to comply with this GI. The transitional period has been extended until October 31, 2022 (inclusive), taking into account the aggression of the Russian Federation and the imposition of martial law in Ukraine.
“Starting from November 1, 2022, the Ukrvinprom Corporation, together with the National Interprofessional Bureau of Cognac, is responsible for the protection of the State Institution Cognac in the country and abroad and will take the necessary measures against products imported and presented under the name Cognac / Cognac “if they do not meet the technical conditions established for this GI in accordance with the Association Agreement signed between the EU and Ukraine,” summed up the Ministry of Agrarian Policy.

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The Chamber of Commerce and Industry of Ukraine stops issuing certificates for beverages named Cognac, Armagnac, Grappa, Brandy and Sherry as the transition period after the signing of the Deep and Comprehensive Free Trade Area (DCFTA) Agreement expired. According to Annex III of the Regulation of the European Parliament and the Council of Europe, the countries of origin that can use names Cognac, Armagnac, Grappa, Brandy and Sherry are only France, Italy and Spain.
“Given that Ukraine has passed the transition period after signing the DCFTA, the Ukrainian Chamber of Commerce and Industry stops issuing certificates for drinks called Cognac, Armagnac, Grappa, Brandy and Sherry,” First Vice President of the Ukrainian Chamber of Commerce and Industry Mykhailo Nepran said.
He said that from now on Ukraine will export sparkling wine and brandy, in accordance with the foreign activity codes.
As reported, the DCFTA trade area between Ukraine and the European Union began to operate on January 1, 2016.

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Public joint-stock company Tavria Vintage Cognac House (Kherson region) saw UAH 31.12 million of net profit in 2017, which is 56.5% less than a year ago (UAH 71.66 million).
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market on holding a general meeting of its shareholders on April 27, its assets last year grew UAH 2.294 billion from UAH 2.087 billion in 2016. Undistributed profit at the end of 2017 was UAH 499.88 million, which is 6.6% more than in 2016 (UAH 468.77 million). Noncurrent liabilities slightly grew, accounting for UAH 559.86 million and current liabilities rose by 14%, to UAH 1.177 billion.
Tavria Vintage Cognac House is one of the largest wineries in Ukraine. The following brands of cognac are made at Tavria Vintage Cognac House: Tavria, Borisfen, Georgievskiy, Jatone and ALeXX. Its own raw materials supply base includes 1,400 hectares of vineyards.



Odesa cognac factory, one of the largest cognac producers in Ukraine, received UAH 5.4 million in net profit in 2017 against UAH 115,000 in net loss in 2016.
According to the company’s report on holding a shareholders’ meeting on April 15, its assets for the year increased by almost 32.8%, to UAH 1.05 billion, while fixed assets decreased by 13.9%, to UAH 77.62 million.
Uncovered loss in 2017 decreased by 19.1%, to UAH 22.9 million. Long-term liabilities of the enterprise decreased by 2.6%, to UAH 340.45 million, while current liabilities increased 1.8-fold, to UAH 571.7 million.
Total debtor indebtedness amounted to UAH 625.9 million.
Odesa cognac factory a part of Global Spirits holding, which also unites Khortytsa distillery, Poltava distillery. The structure also includes distribution units: Ukrainian Distribution Company, Khortytsa Trade House, and Megapolis USA.