Is price-fixing prevalent in Russias imported wine market?

Is price-fixing prevalent in Russia's imported wine market?

The Russian Federal Antimonopoly Service (FAS) has flagged up the possibility of a cartel in Russia, where the price of a bottle of wine is around five times more expensive as the same bottle in France.

“Probably there is a cartel agreement in the market,” said the head of the FAS, Igor Artemyev, yesterday (8 February).

The watchdog is planning to complete an analysis of imported wine into the country before the end of the Summer, and would initiate proceedings regarding the violation of anti-monopoly legislation afterwards, Artemyev added.

Per capita wine consumption in Russia is running at around seven litres. In Europe, however, consumption is between 30 and 40 litres pre person per year.