PARIS: French wine and spirits exports rose to a new record in 2017 due to strong sales to the United States and China, despite a stronger euro exchange rate, the Federation of French Wines and Spirit Exporters (FEVS) said on Wednesday. Wines and spirits rank second in France for exports, behind aerospace and ahead of perfumes and cosmetics. All French regions benefited from this export windfall,” said Antoine Leccia, FEVS’s new president, who spoke to Reuters by telephone. Exports were mainly driven by the United States and China, the first and third biggest markets for French wines and spirits. In the United States, sales rose 9.5 percent and broke the 3 billion euros mark for the first time, boosted by cognac, which accounted for 40 percent of exports in value. In China, where growth of the upper-middle class is driving sales of luxury goods, shipments climbed 24.5 percent, to 1.2 billion euros, mainly due to cognac and Bordeaux wines. Chinese customers have a better knowledge of products. They buy more upscale bottles, Leccia said. After a few lean years in China, LVMH, Pernod Ricard and Remy Cointreau have had a rebound in sales of cognac in the country.
President summons NA, Senate budget sessions on June 5
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