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September 8, 2008:
Cheap French wine exports hit hard times
French vintners were once appreciated worldwide for their ability to produce a bottle of wine that cost barely anything yet tasted like a million dollars. But new figures released yesterday reveal that international demand for France's inexpensive plonk is drying up at an unprecedented rate, as cash-strapped British and American consumers forgo their dinnertime tipple. Exports of mid-range regional and table wines fell dramatically in the first half of this year, with the number of bottles down by 15.5% on the same period in 2007. These varieties, so long the mainstay of the world's largest wine producer, have been by far the hardest hit in a market struggling to adapt to the demands of a changing world. "Contrary to popular belief, it is no longer the AOCs [highest quality wines] that are responsible for the bitter aftertaste of our exports," said a report by UbiFrance, the agency for the international development of French businesses. "Regional wines ... which were really driving our exports have now broken down." The most worrying signs of a faltering market were seen in Britain and the US, the report said, where traditionally loyal consumers were put off by the strength of the euro against the pound and dollar. As a sector, regional wine export sales fell this year by 3.5% to €488m (£392m). "The biggest difficulties were encountered in the Anglo-Saxon markets, which tend to like [regional wines]," it said. "The current problems with the exchange rate have affected these markets in particular and with them these wines from an extremely competitive niche."
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The figures - which show that champagne exports fell by 4.2% in terms of volume - will send jitters through the industry. The last time the world went into recession, in the early 90s, sales of top labels such as Bollinger were decimated by a newly frugal consumer attitude. Amid this backdrop of gloom, the saving grace for French viticulture is proving, unsurprisingly, to be the vintage Bordeaux of 2005. Driven by international desire to taste what has been was hailed as the best wine for decades, exports rocketed by 42.5%. Such is the thirst for this finest of wines that, despite an overall drop in volume, its producers have defied all other indicators to see profits rise by 8.2%. Ever since initial signs that the gentle summer of 2005 had produced some exceptional red, the global clamour has been growing and prices have been rising. The London vintners Berry Brothers and Rudd were selling cases of Chateau Margaux for £5,340 in 2006 - before the wine had even been bottled. Lizzy Davies / The Guardian
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8/9/2008 Για παλαιότερες δημοσιεύσεις κάντε κλικ εδώ. |
