Medindia

X

Bordeaux Sales Drop in China

by Dr. Enozia Vakil on  March 14, 2014 at 6:25 PM Lifestyle News   - G J E 4
The cut in purchase by the Chinese drinkers, led to drop in sales of Bordeauix wines by 1.4 percent last year and exports dropping by 6 percent.
 Bordeaux Sales Drop in China
Bordeaux Sales Drop in China
Advertisement

While the volume of wine from the southwestern French region sold edged up 0.3 percent to 557 million litres, or 742 million bottles, by value it slipped 1.4 percent to 4.24 billion euros ($5.9 billion), the CIVB association of Bordeaux winemakers said.

Advertisement
Exports fell 2 percent by volume to 213 million litres, and by 6 percent in value to 2.14 billion euros.

CIVB president Bernard Farges blamed the slump in exports on "the slowdown in China which has had exponential growth since 2005".

Sales in China fell 16 percent by volume and 18 percent by value, a drop of about 60 million euros. China and Hong Kong together account a quarter of Bordeaux's exports.

A crackdown on corruption by China's new leadership has hit sales of Western luxury goods as lavish gifts were often used to curry favour with officials.

Source: AFP
Advertisement

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like

Advertisement
View All