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French cognac sales reach a record in 2016-2017, led by the United States
[BORDEAUX] French cognac sales grew for the third straight year in 2016-2017 to reach a new record of 3 billion euros (S$4.8 billion), led by the United States, according to the country's cognac lobby.
Sales rose by 15.2 per cent in value over the 12-month period from Aug 1 last year to July 31. It reflected a 10.2 per cent gain in volume to 190.2 million bottles, 98 per cent of which were exported, the national inter-branch cognac office (BNIC) said on Wednesday.
All regions surged, starting with countries grouped under the North American Free Trade Agreement (NAFTA), where sales grew by 9.3 per cent in volume to 82.1 million bottles. About 78.7 million bottles were sold in the United States alone.
Shipments to the Far East advanced by 10.6 per cent in volume to reach 53.7 million bottles, including 22.6 million in China.
Europe renewed with growth after several years of decline.
Sales there amounted to 42.1 million bottles over the period, reflecting a hike of 10.1 per cent, led by Britain (10.3 million bottles).
The top five markets are the United States, Singapore, China, Britain and Germany.