FRANCE: Burgundy exports to US slump
"One has to say that all French wines are in the same boat , with volumes, in the majority of cases, dipping by between 22 and 37% and values by between 22 and 40%," the BIVB's market analyst, Frédéric Dupray, told just-drinks in an interview.
While the strong decline was due to the prolonged economic crisis in the US weighing on consumer expenditure, a more important factor was the stronger euro against the dollar which was penalising French wines, he said.
"It's a similar picture with regard to Canada and Japan whose currencies have weakened considerably against the euro too. French wines are no longer competitive with a strong euro."
He concluded: "Importers of Burgundy wines are this year living on their stocks and waiting patiently for the market to improve so that they can build them up again. For all that, the economic situation in the US and Japan appears to be improving which is an encouraging sign for us."
- Boom time for soft drinks in West Europe?
- Protein interest offers drinks opportunities - NPD
- The category today - Scotch Whisky I
- Patron's lesson for the broader spirits sector
- Alcohol and the risk of breast cancer - ISFAR
- Analysts clash over AB InBev SAB Brexit impact
- Pernod switches Travel Retail Europe op's director
- AB InBev unveils Stella Artois three-packs
- Rum "yet to maximise" GTR potential - Bacardi
- SABMiller issues currency alert as Africa weakens
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Keurig Green Mountain in Hot Drinks (World)
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends