China wields increasing power in world wine market - France
Fin24 - Apr 19th 2016, 10:22
Paris - The global wine market grew almost 11% last year as China not only drank more wine but also produced more, the International Organisation of Vine and Wine (OIV) said on Monday (18 April).
In a market worth €28.3bn ($32bn) in 2015, France remains by far the largest exporter in terms of market share value, with 29%, equivalent to €8.2bn.
However, France only ranks third in volume of exports, at 14 million hectolitres, reflecting the high quality of its wines, which fetch higher prices than its competitors do.
Spain is the world's biggest exporter by volume, with 24 million hectolitres, but has slipped to third place, in terms of market share value, because of the relatively low price per unit.
Italy is now the world's second-largest exporter at 20 million hectolitres, with a market share value of €5.3bn, the OIV said.
China though is playing an increasing role in fuelling global growth in both consumption and production.
The world's biggest tipplers are Americans, drinking 31 million hectolitres last year. Chinese drinkers consumed 16 million hectolitres, up from 15.5 million in 2014.
Furthermore, while other countries slightly reduced production, China increased the amount of land given over to vineyards by 34 000 hectares in the space of a year.
"China remains the main driver of growth in the global wine industry," OIV director general Jean-Marie Aurand told a press conference in Paris.From Fin24.com
Meridian Holdings invests in Cape Wine Academy
14/06/2019 - 14:12
This year, the Cape Wine Academy celebrates 40 years of presenting their wine courses to industry and private enthusiasts. We are also pleased to announce that as of 1 July 2019, Meridian Holdings will be the sole shareholder of the Academy committed to investing in a bright future in wine education for all for South Africans.
SA's first citrus shipment arrives in China
13/06/2019 - 15:39
The historic shipment of 5 200 tons of citrus in a breakbulk vessel has arrived at Shanghai Port in the People’s Republic of China.
Lothian Vineyards scoops the South African Chardonnay Trophy at 2019 IWC
07/06/2019 - 09:29
Cool climate producer from the Elgin Valley, Lothian Vineyards, has scooped the coveted South African Chardonnay Trophy in the 2019 International Wine Challenge (IWC). The Lothian Chardonnay 2017 scored 95 points and won the IWC’s hallmark of excellence in Chardonnay with the Varietal Trophy in the global competition.
French grocery chain Casino on the ropes after long battle with hedge fund
27/05/2019 - 10:24
The parent company of French grocery chain Casino insisted on Friday that there would be no consequences for some of the country’s best-known supermarket brands after it filed for bankruptcy protection following a long battle with hedge funds.
Fine and rare South African wines to go under the hammer in unprecedented Strauss & Co auction
21/05/2019 - 16:08
Strauss & Co’s inaugural Fine Wine Auction, to be held in partnership with online retailer WineCellar.co.za and leading Sommelier, Higgo Jacobs, takes place at 3 pm on Saturday 8 June 2019 at Strauss & Co’s offices in Johannesburg when a selection of the finest South African wines will be offered. It forms part of a week of art and wine and follows after Strauss & Co’s first Saturday Live art auction which takes place in the morning.