ArmInfo. Armenia will expand the range of beneficiaries of the agricultural machinery leasing support program, which will lease oak containers used in the wine sector. The decision to expand the range of beneficiaries was made at a government meeting on November 12.
The project justification notes that the new support measure is aimed at improving the storage capacity of manufactured products. Under the program, beneficiaries can purchase oak containers used in the wine sector. According to the Law "On Alcoholic Beverages Made from Grape Raw Materials," wine products include grape must, concentrated grape must, grape wine, flavored wine, flavored grape wine, Armenian brandy, Armenian brandy wine, Armenian brandy spirit, flavored water for brandy, grape brandy spirit, grape vodka distillate, and wine vinegar. Thus, under the program, businesses producing the aforementioned products can purchase oak barrels and use them in other sectors of the food industry, particularly in the production of fruit wines and vodka, as well as apple cider vinegar, for storage and aging, resulting in more valuable and sought-after products.
In Armenia, the majority of fruit wines and vodkas are produced by businesses in the wine sector, which also use oak barrels for the storage and aging of fruit wines and vodkas. At the same time, many small businesses exclusively producing fruit wines, vodka, and apple cider vinegar are unable to purchase oak barrels under the program. It is expected that with the adoption of the project, businesses operating in crop production and food and beverage production will be able to lease oak barrels, improving their storage capacity and increasing their operational efficiency.
It is worth noting that Armenia has a state program to support agricultural machinery leasing, aimed at upgrading the agricultural machinery fleet and supporting farmers. Under this program, the state subsidizes the 2% interest rate on borrowed funds. For certain categories, such as socially vulnerable border communities or military personnel with disabilities, the rate can be reduced to 0%. The down payment is 20% of the equipment's value. The maximum amount is up to 500 million drams per business entity, depending on the operator and terms. Leasing terms, depending on the type of equipment, are set for combines - from 7 to 10 years, for tractors - from 5 to 6 years, for balers, seeders and similar equipment - from 3 to 6 years, for other auxiliary machinery and equipment - up to 3 years.
