As the BNIC just announced, China just became the 2nd biggest drinker of Cognac in the world: From today on! China’s dragon is thirsty.
Chinese drank 20 million bottles of Cognac between january and september 2010, and 90% of those bottles were higher quality than VS or Three Star cognac.
That is madness! Cognac consumption in the last 10 years multiplied by 9 in China. Of course, the US are still the most important market in the world but China will be the leading market for VSOP, Napoleon and older qualities such as XO, Extra and Prestige bottles.
Below you see the graph of the 2009/2010 year: Singapore 2nd, China 3rd. This changed now.
In other words: While the US are a good market for VS and urban, music-orientated mixable Cognac, China is going for the old and expensive stuff. But China is not the only country that’s about to go mad about cognac, because Singapore is another important importer of the famous french brandy.
As you see below, Cognac sales are back to force – worldwide.
Apaprently Russia seems to be more and more an interesting market, too.
Just keep in mind that over 96% of produced cognac is exported, that makes 1.6 billion euros – the price of 31 Airbus A320.
Source: BNIC, french.cri.cn