FRANCE: Burgundy wine exports drying up
Exports of Burgundy wines fell by almost 25% in both volume and value in the 12 months to the end of July, according to the region's wine trade body, BIVB.
Global exports for the period were 79.3m bottles, generating sales of almost EUR528m, down around a quarter on last year, BIVB said today (14 October).
Exports to the UK fell by 40% in volume and 35% in value, with similar declines in the US.
A strong euro against the dollar continues to hurt exports to the US, but mid-term growth prospects are better because the market has not reached full maturity, BIVB said.
However, it described the UK as a "saturated" market, where purchasing power has dipped, weak sterling is a handicap to European suppliers and an increase in duties will hit consumption.
Several UK distributors are not hopeful of a recovery within four years, BIVB added.
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