Wine Prices Dropping
Small wonder French wine producers are looking forward to this year’s biennial wine fair Vinexpo Asia-Pacific in Hong Kong.
According to the French wine trade body FEVS (Féderation des Exportateurs de Vins & Spiritueux), in a story reported by the British Wine magazine Decanter, French wine exports in 2013 were down by 3.1% in volume. (The sales value was just 0.1% less.)
Interestingly, the volume of low-priced exports eroded the most, a whopping 17.3%.
Champagnes and higher-priced wines with A.O.C. Designation fell the least, just 1% from the year before.
The French are putting a brave face on it. FEVS chairman Louis Fabrice is quoted as saying, “2013 result is a remarkable performance considering the current deteriorated economic environment.”
Meanwhile producers are gearing up to present their wines at Vinexpo Asia-Pacific May 27-29. The organizers expect 1,300 exhibitors this year, 300 more than the last biennial expo held in 2012. To accommodate everyone, the wine fair will occupy 50% more floor space. Expected number of importers, distributors and wine folk? About 18,000.
More at : Los Angeles Times