FRANCE: Wine, spirits exports to slide in '09
French wines and spirits exports will fall 20% in value this year, trade body Fédération des Exportateurs de Vins et Spiritueux (FEVS) has said.
FEVS' forecast came as it announced exports fell 30% in the first quarter of 2009, against a 2008 first quarter bolstered by high prices for Bordeaux grands crus 2005.
FEVS spokesman Renaud Gaillard told just-drinks today (4 June) that only China and Hong Kong had not reported declines.
"Our major exports markets are the UK and the US, where the he economic crisis has been most keenly felt. The knock-on effect on shipments of Champagne, Bordeaux, Burgundy, Côtes du Rhône wines and Cognac has been significant."
Importers and wholesalers continue to run down their stocks and it probably won't be until the end of the year/early 2010 before we begin to see to a marked pick-up in orders," he added.
Pernod Ricard's exposure to emerging markets, and particularly China, could have put the drinks giant on a shallower curve than some others in the sector in the economic downturn....
Recent figures from drinks heavyweights Pernod Ricard and Diageo suggest that premium Scotch whisky sales are suffering in the economic dowturn....
Remy Cointreau has reported a fall in half-year earnings, but operating profits and sales were boosted by higher sales of high-end Cognac in China....
Fortune Brands, owner of Beam Global Spirits & Wine, expects to increase the proportion of its sales from outside of the US, group chief financial officer Craig Omtvedt has told an investor conference...
Maxxium UK is to launch a 3D television advert for Courvoisier Cognac....
Courvoisier, the Cognac arm of Beam Global Spirits & Wine, remains cautious on talk of an economic recovery in its key US market, but the group is increasingly upbeat about the UK, Russia and Asia....
William Grant & Sons, owner of Grant's Scotch whisky, has reported a strong sales rise for 2008, but warned of deteriorating fortunes for Scotch in 2009....
Pernod Ricard shareholders have approved a cash dividend payment of EUR0.5 (US$0.74) per share for the French wine and spirit group's most recent fiscal year....
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