FRANCE: Cognac exports stay strong as China leads the way - figures
The BNIC released the Cognac export numbers earlier today
Exports of Cognac in the year to July posted a rise in both value and volumes, driven by the markets of the east, according to recently-released figures.
Trade body the Bureau National Interprofessionnel du Cognac (BNIC) said earlier today (3 September) that total exports in the 12 months to the end of July came in 13% up in value terms year-on-year, and up by 4.3% in volumes. Exports hit 471,678 hectolitres of pure alcohol for the year, the equivalent of 168.5m bottles, with turnover hitting EUR2.2bn (US$2.77bn).
While all categories of Cognac generated growth, it was the higher-end XO that performed best, with volumes jumping by 22.9%. VS and VSOP improved volumes by 6% and 8.6% respectively.
Shipments to South-East Asia, China and Japan leapt by 21.4% in value and by 9.9% in volume, thanks in the main to the Chinese market. While the US, Canada and Mexico saw volumes inch up by 1.9%, Europe struggled in the year, with “difficult economic conditions slowing consumer demand”. Exports to the region dipped by 1.5% in the year.
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