Cognac exports are suffering from Chinas anti-extravagance measures

Cognac exports are suffering from China's anti-extravagance measures

Export sales of French wine and spirits fell by 7.3% in the first half of this year, according to latest figures.  

France's Fédération des Exportateurs de Vins et Spiritueux de France (FEVS) reported that export sales by value dropped to EUR4.8bn in the six months. Cognac value sales slid by 12% suffering from "the Chinese effect", but vodka sales, in contrast, were up around 2%. 

Total French wine exports fell by 3.5% and 7% in volume and value respectively. Champagne was the strongest performer rising with gains of 6% and 8%.

But revenues from still wines were down 12%, those for Bordeaux specfically slumping by 28%, due largely due to faltering demand in China after several years of strong growth.     

FEVS president, Christophe Navarre, said exports had been hampered by factors such as the slowdown in China and the sluggishness in the global economic recovery which did not call into question the long-term growth prospects of France's wines and spirits sector.