FRANCE: Low stocks could lead to Cognac shortages
Cognac supplies are under pressure and shortages may be on the way, one of the top Cognac houses has warned.
"Today, there is enough stock to supply at the current rate of sales," Cyril Camus, president of Camus, told just-drinks today (5 December). "But if the rapid growth experienced over the past two years continues, there will be shortages in the near future."
Another merchant, Meukow, said they recently lost a US$120,000 contract, because they could not supply enough VS level Cognac to America.
As supplies diminish, prices are rising, particularly for independent growers not under fixed price contracts to the main producers.
Independent grower Christophe Forget said the price of his non-contracted 10-year-old Cognac is up to EUR3,000 per hectolitre, as opposed EUR1,800 last year. Camus estimates independent growers prices are up by 380% on last year for 10-year-old Cognacs.
Sales of Cognac have risen by about 40% since 2001.
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