Bordeaux wine exports to China soared in 2021, with more than a fifth going to the Chinese market

2022-06-12 0 By

With at least a fifth of Bordeaux wine exported last year gobbled up by China, is there a renewed appetite for Bordeaux?Chinese demand for Bordeaux is back, gobbled up at least a fifth of the Wine exported last year, according to the latest figures from the Bordeaux Wine Council.China has been the top destination for Bordeaux wine exports by volume for the past decade, but since 2018, bordeaux wine exports have declined due to overbuying and overstocking in previous years.China’s subsequent economic slowdown, trade wars with the US and Australia, and the COVID-19 pandemic meant that Chinese demand for Claret never fully recovered.However, Bordeaux is back in full swing in 2021.Last year, the famed French wine region exported 616 million euros to the world’s second-largest economy, up 16 percent from 2020 and accounting for 26 percent of Bordeaux’s total exports.About 54 million bottles were exported to China, up 10 percent from 2020.That means about 21% of Bordeaux’s wine exports end up in China.The increase comes against the backdrop of a contraction in China’s overall imports due to the economic slowdown caused by the pandemic and a huge vacuum created by the near-withdrawal of Australian wine from the Chinese market after it was slapped with anti-dumping duties of up to 218 per cent.More importantly, Bordeaux accounted for 67% and 72% of all French AOP wine exports to China in terms of quantity and value.Macao has the priciest taste for red wine in the Chinese market, according to data.While the value of Macao’s imports is relatively small (€24m), bordeaux wines exported to Macao have the highest average price of €54 per bottle.Hong Kong imports €298m worth of Bordeaux wine (57,000 litres) at an average price of €39 a bottle, well above the average price of €6 in China.Source: VINOJOY Edit: Small grape-end