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The spirits giant Diageo estimated that the fast-spreading COVID-19 disease could shave off up to £325 million of net sales for the group, as the virus outbreak forced many restaurants and bars to shut doors across Greater China region.
China’s wine market in 2019 suffered a huge blow as latest figures released by the country’s drinks trade body showed that wine imports during the year slipped to the lowest level since 2017, as a result of the country’s slowing economy and US-trade war.
A leading Chinese economist estimated that China’s first quarter growth will be 0% or worse, warning that previous prediction dismissing COVID-19’s mid- and long-term impacts on China’s economic growth is wishful thinking.
Australian wine exporters to China have reported dramatic drops as much as 90% in the first two months of the year, due to the fast-spreading Covid-19 (coronavirus).
The 48-year-old Chinese man infected with the fast-spreading novel coronavirus or Covid-19 has recovered and been discharged from a hospital in Bordeaux after first being diagnosed on January 24.
ProWine Asia 2020, which was planned in Singapore from March 31 to April 3, has now being postponed due toContinue Reading
For many wine merchants hoping for a recovery in 2020 after sales slump in 2019, the hope is completely dashed, as the whole country’s economic growth is expected to be undercut significantly by the deadly coronavirus.
Wine Australia’s CEO Andreas Clark warns of the impacts of the deadly coronavirus on sales particularly to its most profitable market China in the trade body’s latest export report, as China struggles to contain the virus that has infected close to 37,000 and killed over 800.
The Chengdu wine and spirits fair, the biggest trade fair for alcoholic beverage inside mainland China, has been postponed, the organiser has announced, due to the outbreak of the deadly coronavirus that has now sickened over 24,000 and killed 490 in China.
China’s retail sales during this year’s traditional lunar new year will most likely face ‘cliff-like’ drop amid the deadly coronavirus outbreak, the country’s official drinks trade body has warned, as many in the wine industry move to slash sales target.