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News
Cognac celebrates fifth consecutive year of growth
Cognac exports have risen for a fifth consecutive year to reach the highest levels in both volume and value terms, the Bureau National Interprofessionnel du Cognac (BNIC) has reported.
Cognac exports have risen for a fifth consecutive year
Exports from 1 August 2018 to 31 July 2019 topped 211.1 million bottles – up 2.5% on the previous year. By value, exports hit €3.4 billion (US$3.7bn) – almost 6.9% more than the year before.
The Cognac export market accounts for 98% of the category’s sales. Furthermore, Cognac represents almost a quarter of the total value of French wine and spirits exports.
This growth has been backed by the planting of an additional 10,000 ha (24,710 acres) of vineyards over a three-year period.
Exports were spearheaded by the US, Canada and Mexico, with exports up to 97.7 million bottles (an 8.8% volume increase and 17.6% value increase), and representing 46% of overall shipments.
The US in particular was singled out by the BNIC for “once again driving the dynamic growth” of the category, with 94.3m bottles shipped to the States in 2018-2019.
Shipments to the Far East “stabilised” to 60m bottles during the same period, accounting for 28% of exports. Although this number showed a slight drop in volumes (1.5%), value was up by 1.8%.
The BNIC noted producers and shippers “remain confident about the significant potential for development in the region, driven by the Chinese market”.
The Cognac region has been blighted by a series of adverse weather conditions over the last few years. Earlier this year, The Spirits Business explored how producers are working together to combat the effects of climate change.