FRANCE: Bordeaux, Cognac drive nine-month wines, spirits exports
FEVS says strong Cognac, Bordeaux thirst in Asia is bolstering French exports
French wines and spirits exports rose by 11.7% in value in the first nine months of 2011, to almost EUR7bn (US$9.46bn), according to figures from trade federation FEVS.
Export volumes for the period, to the end of September, increased by 3.2% on the first half of 2010. “Growth is being largely driven by Asia and, in particular, [demand] for Cognac and Bordeaux, which has been spectacular,” a spokesman for FEVS told just-drinks today (18 November).
"Even though there has been strong growth in exports of Burgundy and Champagne to Asia, too, the zone remains a bi-polar market for the moment,” he added. If global exports maintain the same value momentum in the final quarter of the year, this would mean export sales exceeding EUR10bn in 2011 - a new record.
“This can't be ruled out, but the prevailing mood seems to be one of prudence in the sector," said FEVS. "The EU market is a cause for concern given the euro crisis and, given the lack of visibility on the economic outlook, it's difficult to say what 2012 will hold.”
French wine and spirits exports rose by 10.5% in value and 2.4% in volume in 2011, mainly thanks to Cognac and Bordeaux wine demand in Asia, according to trade body FEVS....
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