Exports of Cognac has grown four years in a row, rising by 5.4% in value and 8.2% in volume in the past year. A total of 205.9 million bottles were exported, with Asia and the Americas contributing the highest growth.
Shipments to the Far East Asia reached 60.9 million bottles, representing an increase of 13.5% in volume and 12.4% in value. Singapore led this area with 26.6 million bottles, followed by China with 26.2 million bottles shipped.
The United States is by far the biggest export market of Cognac with 86.5million bottles shipped. Whiles the Americas (United States, Canada and Mexico) show a 9.4% rise in volume and 0.2% in value of imported Cognac.
Export value of Cognac in the past year reached €3.2 billion, accounting for nearly a quarter of the total value of exported French wines.
“These strong results confirm the lasting appetite of the Chinese for Cognac, even as the market is still stabilising,” said Patrick Raguenaud, president of the Bureau National Interprofessional du Cognac (BNIC).
“The dark spirits category is growing in the US market, encouraged by the historical presence of cognac and the constant investments of the cognac houses,” added Raguenaud.
Shipments to Europe remained stable, declining 2% in volume and rising by 3% in value, with total shipments reaching 41.3 million bottles. “Particularly in the United Kingdom, the largest European market, shipments remain stable, despite the Brexit context,” said Raguenaud.
By style, the VS and VSOP categories represented 50% of the total volume of exports. Driven by North America, shipments of VS grew by 6% in volume and 4.1% by value, while VSOP shipments increased 10% in volume and 2.1% in value.
Top 10 export markets for Cognac:-
1. UNITED STATES 86.5 million bottles
2. SINGAPORE 26.6 million bottles
3. CHINA 26.2 million bottles
4. UNITED KINGDOM 10.8 million bottles
5. GERMANY 4.8 million bottles
6. FRANCE 4.3 million bottles
7. LATVIA 3.8 million bottles
8. HONG KONG 3.8 million bottles
9. SOUTH AFRICA 3.1 million bottles
3.1 million bottles
(the writer can be contacted at: SLawMathews@thewinechronicle.com)