Murfatlar: Investments support the wine market’s upward trend

“The Romanian wine market is an emerging one, which has not reached its maximum potential, so it will continue the trend of the past years. The pace may not be the same, but the trend will be maintained,” Murfatlar’s General Manager, Cosmin Popescu told Business Standard.

Popescu said that many of the investments made in the wine industry in previous years will yield as of 2009. The company’s General Manager said that the value of the wine market was some €500 million in 2008, up 11 percent year-on-year. Major players on this market are Murfatlar, Jidvei, Cotnari, and Vincon.

Although company officials say that this period, dominated by economic recession, is not exactly favorable for forecasts, they expect RON 200 mln worth of net sales this year, a 13 percent annual increase. Murfatlar, posted a 14 percent annual rise in 2008, with €42 mln in net sales.

In order to meet its 2009 goals, the company’s strategy targets a 20 percent increase in exports, and the introduction of new products in the firm’s portfolio.