Bourgogne wine exports boomed in the first four months of the year, buoyed by US tariff suspension and a stunning comeback from China.
Wine exports from the famous French wine region grew by 23.7% in volume and 32.2% in value to €91 million from January to April, compared with the same period last year, according to the latest data released by CIVB.
Exports to its biggest market, the US, were up by 16.6% in volume and 18.6% by value year on year, thanks to the temporary suspension of the 25% punitive tax on still wines and a return to normal life in the states as the impact of the pandemic has lessened.
Earlier, this month the Biden administration announced the suspension of tariff will be extended for another five years till 2026, giving Bourgogne producers a collective relief.
This is “a sustainable return to previous export levels looks promising”, says the Bourgogne wine trade org, BIVB.
Additionally, China, which currently ranks as Bourgogne’s 7th biggest market finally roared back. The country’s comeback to Bourgogne is marked with a hike of 146.5% by volume and 157% in terms of revenue, after a big slump in exports last year.
“China has enjoyed one of its best starts in five years,” the trade associaiton exclaims.
Hong Kong again proved to be a very profitable market for Bourgogne. Exports to the Asian wine hub were up 83.1% in volume and 58.4% in terms of revenue, making it the fourth biggest market for Bourgogne. The market has the highest export value per bottle among Bourgogne’s top 10 markets.
In fact, according to BIVB among the top 15 export markets for Bourgogne wines, only Japan and Sweden saw a decline in exports during the period. However, both these markets showed strong growth in the first four months of 2020 compared to 2019.
The postponement of import formalities for French wines shipping to the UK, due to Brexit along with the reopening of restaurants and bars gave a boost to Bourgogne wine export figures, up 7.9% by volume and 38.6% in terms of revenue.
In terms of wine categories, white Bourgogne wines were up 20.4% by volume and 23.7% in terms of revenue.
Red wines were doing even better, up 39.1% by volume and 44.7% in terms of revenue.
Crémant de Bourgogne wines also enjoyed a boost, up 4.5% by volume and 1.9% in terms of revenue.