Jean-Philippe Code: "the Chinese market is getting balanced for Bordeaux wines"

Monday June 03 2013 by Vitisphere

Economic expert at the Interprofessional Council of Bordeaux Wines (CIVB), Jean-Philippe Code follows the exports of Bordeaux wines. In late February, annual shipments  increased by 7% in volume and 11% in value. But "Asian high increases are fading away. Despite the sharp increase of bordeaux shipments to Japan in 2012 (+29%), shipments to China and Hong Kong are slowing down. This is a phenomenon of balance more than congestion. The Chinese market is complex, second and third rows cities are the new places of consumption. The decline of value development is explained by the consolifation of mid-range wines."

"The European market is generally sluggish. Apart from the Belgian market which shows resilience. The north American market is gaining interesting growth, with good valuations for our Bordeaux vintages. "

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