Bordeaux toasts China export growth

Bordeaux toasts China export growth

After two years in the doldrums, Bordeaux wines have recorded annual growth in exports, largely due to recovery in the Chinese market, according to recent figures.

Statistics released by trade body the Conseil Interprofessionnel du Vin de Bordeaux (CIVB) late last week showed that sales by value in the 12 months to the end of June were up 1% on a year earlier, at EUR1.83bn (US$2bn). However, volumes in the period fell 4% to 277m bottles.

Over the year, exports of Bordeaux to China (excluding Hong Kong) increased by 3% in volume but dipped by 2% in value. However, the recovery in Chinese-bound shipments was particularly marked in the second quarter of the year with volume and value leaping by 43% and 27%, respectively.

Speaking at a press briefing last week, CIVB president Bernard Farges said: "China is such a vast market that the slightest variation (in demand) is at our level very significant."

In July, a study suggested the economic slowdown in China could spell opportunities for entry-level and mid-priced wines.