FRANCE/CHINA: Bordeaux producers voice fears over China's EU wine threat
Bordeaux producers get a healthy trade from China
China's anti-dumping and anti-subsidy probe of European wine could leave some Bordeaux producers facing "near-bankruptcy", it has been claimed.
It emerged today (5 June) that China has launched a trade investigation into European wine exports, in response to the EU imposing duties on imports of Chinese solar panels. As the biggest wine exporter to China, France and the Bordeaux region in particular, has the most to lose from China's retaliatory measures targeting the wine trade.
“China has become an essential maket for Bordeaux growers. More than 10% of Bordeaux's production heads for China, rising to over 12% if Hong Kong is included and represents 15% in terms of value,” said the former président of trade body, the Fédération des grands vins de Bordeaux, Xavier Carreau, who is also an exporter of wines to China.
Around a quarter of his firm's output heads for China.
He added: "Such is their dependence on exporting to this country now, that a good number of French and especially Bordeaux producers, face being in a state of near-bankruptcy if the Chinese market contracts.”
- Have spirits companies forgotten the mainstream?
- Pernod's mood darkens over India - Analysis
- Does alcohol accelerate the onset of dementia?
- Why Scotch must drop the 'malts good, blends bad'
- Ashwagandha - The next functional drinks trend?
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Distell acquires majority stake in Cruz Vodka
- Portman Group heads to Tesco for new chief exec
- William Grant names Europe & NA Travel Retail head
- Moet Hennessy unaffected by LVMH Dior buy
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Global vodka insights - market forecasts, product innovation and consumer trends