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Cognac sales reach value and volume highs in 2016

Published:  17 January, 2017

Sales of Cognac reached their highest level in terms of volume and value in 2016, the body which oversees the Cognac industry has reported.

Following a good year in 2015, Cognac exports continued to rise in 2016 with volume and value increases of 6% and 6.8% respectively.

According to the Bureau National Interprofessionnel du Cognac, a total of 179.1 million bottles were exported in 2016, resulting in a turnover of 2.76 billion euros.

The Cognac industry, which accounts for more than 20% of French wine and spirit exports, saw continued traction within the North American Free Trade Agreement (NAFTA).

A steady increase in shipments to the United States - Cognac's largest market for the past 25 years - is largely to thank for this achievement, with 74.1 million bottles shipped this year alone.

Exports to the Far East were stable during the same period, with export volumes up 1% to 51.1 million bottles and value up 3%.

These figures contrast with those reported for Europe, where a difficult economic climate contributed to a decline in total shipments to 39.4 million bottles.

Volumes and value are down 1.2 % and 1% respectively.

The pattern of increased exports to the rest of the world (Africa, the Caribbean etc.) showed no signs of stopping in 2016, both in terms of volume (+ 5.4 %) and value (+ 5,1 %).

Together, these markets account for more than 6.3 % of global exports, or 11.3 million bottles.

Growth in the US has also contributed to steadily rising VS quality volumes (+ 9.6 %) and value (+ 13.0 %), with VS now accounting for half of all Cognac exports.

At around 40% of total volumes, VSOP exports have remained stable in 2016, with volumes up + 0.4 % and value up + 0.3 %.

Meanwhile, old quality Cognac exports have experienced a revival, with an 11.7 % increase in volumes and value up 8.3 %.

The Cognac industry accounts for more than 20% of French wine and spirit exports, making it a heavyweight in the French commercial sector.