Decline is accelerating for China’s wine and spirits imports in the January-August period, sending worrying signs to the country’s drinks trade that has been pummelled by the onslaught of the country’s strict covid restrictions, supply chain price hikes and logistics nightmares for almost 3 years. Read More
France
Pierre Castel, one of the richest billionaires in the wine industry and founder of world’s third largest wine producer Castel, is being hit with US$416 million tax bill ordered by a Swiss court, according to a Bloomberg report. Read More
China’s wine imports in the first five months of the year continued to dip but its overall decline was lifted by growth recorded in May, while uncertainties loom as cases double in Shanghai again, posing fears of another lockdown. Read More
Despite volume decline, Japan's wine import value climbed in 2021, writes Mari Yasuda. Read More
In 2021, French wine and spirits export to mainland China surged 57% by value from 2020. Read More
Hong Kong’s wine market made a triumphant rebound last year, signalling the market has returned to pre-Covid level in 2019 but uncertainties hang as the city imposes toughest Covid curbs yet. Read More
South Korea's wine imports soared over 70% in 2021 to reach a record high, making it the fastest growing Asian market for wine, as more wine drinkers turn to home consumption during the pandemic.
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China’s wine market failed to pick up steam despite early economic recovery from the pandemic and overall growing consumer spending, as limited business banquets and social gatherings still heavily weigh down the country’s wine consumption volume. Read More
Vino Joy News talked to Frédéric Pacaut, Managing Director of French wine group Badet Clement, which owns wineries in Burgundy, Languedoc, Provence and Rhone Valley, to unfold the challenges faced by French winemakers and their prediction on the possible price hikes on the 2021 vintage. Read More
Japan's import volume went down but value grew in the first half of 2021. Meanwhile, France has overtaken Chile in both volume and value. Read More