Bordeaux wine fair hopes to beat recession blues

BORDEAUX - The world's biggest wine fair opened Sunday in France's wine city of Bordeaux, with leading exporters and producers saying prospects for the sector looked bright despite the global downturn.
Organisers of Vinexpo noted that a record 2,400 exhibitors are taking part in this year's show with Sweden, Belarus, Egypt, Mauritius and Brazil joining in for the first time.

Bordeaux wine fair hopes to beat recession blues
"The wine sector is feeling the effects of the economic crisis, just like all the other sectors," said Vinexpo president Xavier de Eizaguirre.
"But the impact is difficult to measure and the sector is showing vitality in traditional and emerging markets."
The head of the French federation of wine exporters FEVS, Claude de Jouvencel, had earlier this month predicted a 20-percent drop in French wine exports for 2009.
But the world market for wines is expected to grow over the next three years, with turnover forecast to soar to 390 billion dollars (280 billion euros) in 2012 from 330 billion dollars this year.
Two drivers of world demand for wine, China and Russia, are showing no signs of ending their new love affair with reds, whites and roses, according to a study by the British consultant firm IWSR for Vinexpo.
Wines from Italy, France and Spain are the stars at the five-day wine fair that features conferences and debates as well as tastings of various vintages.

Sunday, June 21st 2009

New comment:

News | Politics | Features | Arts | Entertainment | Society | Sport

At a glance