Japan Retailers Cut EU Wine Prices with EPA Effectuation

Economy Politics

Tokyo, Feb. 1 (Jiji Press)--Japanese retailers started to lower the prices of wine made in the European Union, following the effectuation of a much-touted Japan-EU economic partnership agreement on Friday.

They hope the EPA will help stimulate demand and expand the domestic wine market.

Japanese tariffs of up to about 94 yen for a 750-milliliter bottle of wine and up to about 137 yen for sparkling wine were scrapped upon the entry into force of the free trade pact.

Supermarket operator Aeon Co. <8267> cut the prices of EU wine by 50 to 200 yen per bottle at some 3,000 outlets of its Aeon Style and MaxValu chains nationwide.

"I think I'll buy wine more frequently, because I like it and prices (of EU wine) have now been cut," said a women, 40, who visited an Aeon Style store in the eastern city of Chiba.

[Copyright The Jiji Press, Ltd.]

Jiji Press