Global Cognac shipments declined markedly by volume and value in the year through June, with growth in the U.S. unable to offset continuing woes for the category in China. According to the Bureau National Interprofessionnel du Cognac (BNIC), shipments fell 7% by volume to 156 million bottles in the 12 months through June, with value down 10% to €2.2 billion ($2.85b).
- Bureau National Interprofessionnel du Cognac BNIC Logo
A 19% slump in sales to the Far East—where shipment value amounted to €1 billion ($1.3b)—was blamed primarily on the ongoing government austerity drive in China. Cognac sales to Europe also declined, falling 12%, even as Eastern Europe posted volume progress. Meanwhile, shipments to North America—led by top Cognac export market the U.S., which accounted for 54 million bottles—delivered 6% growth by both volume and value.
Source: http://www.shankennewsdaily.com
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