Enormous Potential for Producers

CWSA cognacMore China Wine Market News…

“For more than two years, China has been the top market by value for cognac and, when you think about the growth of the Chinese economy, that opens up some very interesting prospects,” said Jean-Marc Morel, chair of the Cognac industry association Bureau National Interprofessionnel du Cognac (BNIC). From 2011 and 2012 shipments of Cognac to China countries by nine percent. “Cognac has been long been consumed in China and it’s now a mark of middle-class success” says Olivier, the former chief executive of the Courvoisier Cognac house. According to Morel, the Chinese enjoy both VSOP (very superior old pale) – aged for five or more years – and XO (extra old) – aged for at least 15 years – and will drink it before, during and after a meal.“There is rapid growth in demand for this product, and as China develops and the standard of living increases, the number of consumers will grow,” Kong Quan, China’s ambassador in France.“With rapid urbanization and a middle class of 700 million within a few years, you can expect a significant proportion of new consumers,” Kong said.

 

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