Cognac exports are back in growth

Cognac exports are back in growth

Cognac exports have rebounded in the past year as North American growth outpaced ongoing declines in Asia, according to new figures.

Global shipments increased by 5.9% in volumes to 164.7m bottles and 9.4% in value to EUR2.4bn (US$2.75bn) in the 12 months to the end of July, the Bureau National Interprofessionnel du Cognac (BNIC) said. The performance is a marked improvement on last year when sales fell 10.2% by value and 6.7% in volumes over the same period.

There was continued growth in North America, which increased 15.5% in volumes and 31.6% in value. The US, Cognac's leading export destination, drove the increases, the BNIC said.

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The "Far East" region, which includes Southeast Asia, China and Japan, posted further declines as Cognac sales continued to suffer because of China's on-going anti-extravagance measures. However, last year's losses of about one-fifth in value and volumes slowed as volumes were relatively flat and value dipped by 6%.
Shipments in Europe stabilised with a 2.2% volume and 0.5% value loss. Total shipments to Europe were 40.1m bottles compared to the US's 63m bottles.