Wine and spirits exports have posted slower growth in H1

Wine and spirits exports have posted slower growth in H1

Wine and spirits exports out of France in the first half of this year rose slightly in value terms but reported a slide in volumes, according to figures released this week.

The Fédération des Exportateurs de Vins et Spiritueux de France (FEVS) said yesterday that export sales of French wine and spirits hit EUR5.1bn (US$6.79bn) in the six months to the end of June, a year-on-year increase of 1.3%. However, in volume terms, total sales in H1 fell by 1.3%.

The sales-by-value performance highlights a marked drop-off for the country's wine and spirits exports: In the first half of 2012, exports leapt by 14% on the corresponding period in 2011.

FEVS president Louis Fabrice Latour said the performance partly reflected pressures on the supply side due to small harvests. "We can only sell what's in our cellars,” said Latour.

Spirits exports were up by 4% to EUR1.6bn, but volumes dipped 1%. Cognac sales passed the EUR1bn mark for the first time (+4%). Meanwhile, wine exports rose slightly (+0.3%) to EUR3.5bn but volumes were down 1.7%.