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MARKET GROWTH
25.11.2011
The value of Burgundy sold in China has doubled in a year and by the end of 2011 the region will represent 10% of all of Burgundian export revenues.
Although Japan remained a mature and important market for Burgundy, a market report from the Bureau Interprofessionnel des Vins de Bourgogne (BIVB) noted that it was now China and Hong Kong that represented the main buying power in the region.
The report stated: “China and Hong Kong are constantly increasing their imports of Burgundy. These two markets, linked by import flows, are soon to become, within a few months, Burgundy s sixth largest market in terms of value.”
Singapore and Taiwan had also registered substantial growth, particularly as – like Hong Kong – they act as export platforms to Asia in general.
The report was sure to note the importance of other Asian countries too such as Indonesia, Malaysia and Vietnam, which, while not having high import volumes, often source their wines from Singapore and Hong Kong instead.
In China exports have doubled to 1.7m bottles a year worth €25.4m. The US retains its title as the highest value market for Burgundy followed by the UK, which remains the largest export market by volume.
Overall exports have risen 0.4% by volume in the first eight months of this year but, more importantly, 17.8% by value.
Extract: http://www.thedrinksbusiness.com/2011/11/burgundy-boom-in-china/?utm_source=The+Drinks+Business+List&utm_campaign=63b980f9a7-24_11_11_Fine_Wine_latest11_24_2011&utm_medium=email
FREE IMAGE
THE WINE TO FLOW IN A GLASS
© Kateryna Potrokhova | Dreamstime.com
Description:
The red wine to flow in a glass. Isolated white.
ID: 1877690
Referral link: http://www.dreamstime.com/stock-photography-the-wine-to-flow-in-a-glass-rimagefree1877690-resi3674429
Although Japan remained a mature and important market for Burgundy, a market report from the Bureau Interprofessionnel des Vins de Bourgogne (BIVB) noted that it was now China and Hong Kong that represented the main buying power in the region.
The report stated: “China and Hong Kong are constantly increasing their imports of Burgundy. These two markets, linked by import flows, are soon to become, within a few months, Burgundy s sixth largest market in terms of value.”
Singapore and Taiwan had also registered substantial growth, particularly as – like Hong Kong – they act as export platforms to Asia in general.
The report was sure to note the importance of other Asian countries too such as Indonesia, Malaysia and Vietnam, which, while not having high import volumes, often source their wines from Singapore and Hong Kong instead.
In China exports have doubled to 1.7m bottles a year worth €25.4m. The US retains its title as the highest value market for Burgundy followed by the UK, which remains the largest export market by volume.
Overall exports have risen 0.4% by volume in the first eight months of this year but, more importantly, 17.8% by value.
Extract: http://www.thedrinksbusiness.com/2011/11/burgundy-boom-in-china/?utm_source=The+Drinks+Business+List&utm_campaign=63b980f9a7-24_11_11_Fine_Wine_latest11_24_2011&utm_medium=email
FREE IMAGE
THE WINE TO FLOW IN A GLASS
© Kateryna Potrokhova | Dreamstime.com
Description:
The red wine to flow in a glass. Isolated white.
ID: 1877690
Referral link: http://www.dreamstime.com/stock-photography-the-wine-to-flow-in-a-glass-rimagefree1877690-resi3674429
