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France posts record wine sales in 2015

163 Days ago

Paris: France posted record-breaking sales of wine and other spirits that earned the country a whooping 11 billion euros ($13 billion) in 2015, the media reported on Thursday.

Sales increased by 8.7 percent over 2014. The rise mainly came from a 12-percent jump in champagne and a 20-percent surge in cognac sales, Xinhua news agency reported.

Exports to China put up a remarkable 23-percent growth following sluggish sales for two years.

Exporters are now targeting common consumers in the country instead of focusing on proposing exceptional wines.

Weakening euro also played a part in the rise. However, the Federation of Wines and Spirits Exporters have warned of increasing competitions from France's rivals.

"This good result should not distract from the constant erosion of our market share," said Christophe Navarre, president of the French Federation of Wines and Spirits Exporters.

Navarre urged producers to come up with more low-priced wines in order to compete with Spain, Chile and Australia. (IANS)

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