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On Wednesday, September 7, ISET hosted Dr. Jon Hanf, Head of the Wine Economics Program at Geisenheim University, Germany, who spoke about the prospects of Georgian wine in the highly competitive German market.
Dr. Hanf started his presentation by stating the obvious – the world market is saturated with wine as global supply steadily exceeds demand by more than 30 million hectoliters. Cutthroat competition results in average prices remaining extremely low, way below Georgian production costs. The German market – the largest and perhaps one of the most competitive wine markets in the world – is a good case in point. For example, very reasonable wines offered by major German discounters, such as Aldi and Lidl (controlling more than 35% of total wine sales in Germany) retail about 1,90-2 Euro per bottle. Premium wines average 8-9 Euro. For comparison, Georgian wines attempt to enter the German market at 12-15 Euro per bottle, way above competition.
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ISET’s Pati Mamardashvili and her co-authors Grigorios Emvalomatis (University of Dundee) and Pierrick Jan (Agroscope, Switzerland) have recently published their research in the Journal of Agricultural and Resource Economics (JARE). The JARE is a peer-reviewed journal that publishes creative and scholarly economic studies in the fields of agriculture, natural resources, and other related areas. The Journal is published on behalf of the Western Agricultural Economics Association.
The published study analyzes the environmental performance of Swiss dairy farms and estimates farmers’ marginal abatement cost for nitrogen pollution. The production technology of farms is modelled in a way that allows for the simultaneous expansion of desirable outputs (e.g., milk) and
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