Arab Today, arab today asia\s biggest wine expo opens in hong kong
Last Updated : GMT 19:41:25
Arab Today, arab today
Arab Today, arab today

Asia\'s biggest wine expo opens in Hong Kong

Arab Today, arab today

Arab Today, arab today Asia\'s biggest wine expo opens in Hong Kong

Hong Kong - AFP

Asia's biggest wine and spirits fair opened in Hong Kong on Tuesday, giving the world's top producers from France to Argentina a chance to tap the booming but still relatively new Chinese market. Organisers of the three-day Vinexpo Asia-Pacific trade fair expect demand for imported wine to weather the slowdown in Chinese economic growth, forecast to fall to 7.5 percent this year from 9.2 percent in 2011. A deep dip in prices of Bordeaux's most prestigious, investment-grade wines last year suggests the Chinese-driven speculative bubble may have burst, but the market for more modest mid-range wines will open up, they said. "If the economy reduces speed they will not drink less. They might drink a little cheaper, but they won't stop now that they have discovered wine," Vinexpo chief executive Robert Beynat told AFP last week. China is the world's biggest drinker of spirits, with 995 million cases guzzled in 2010 -- almost double the volume consumed in 2006, according to Vinexpo. The average mainland Chinese drinker still only consumes 1.3 litres (0.34 US gallons) of wine a year, compared with 2.4 litres in Japan and 50 litres in France. "In terms of consumption volume in Asia, it's grown 100 percent in the past five years. When you look at the per-capita consumption, there's a bright future," Beynat said.Around 1,000 exhibitors are expected to attend Vinexpo at Hong Kong's harbourside convention centre, the organisers said. China leapt to fifth place of top wine consuming nations last year, overtaking Britain, and Asia is expected to account for more than half of worldwide growth in consumption over the next three years. French wines account for around 45 percent of Chinese imports in terms of value, but other producers from Italy and the new world, particularly Australia and New Zealand, are staking claims to market share. Thomas Jullien, the Bordeaux Wine Council's Asia representative, who is based in the city, said producers from his region in France will be strongly represented. "After six years of steep growth, the China wine market has firmly positioned itself as the main export market for Bordeaux wines," he said. Mainland Chinese customers bought 58 million bottles of Bordeaux wines worth 334 million euros ($420 million) last year, a 91 percent increase over the year before, he added. Australian and New Zealand producers are also coming to Vinexpo in force, with an Australian pavilion expected to be one of the highlights. "Asia continues to be an outstanding region for Australian winemakers, now representing approximately 20 percent of total value of exports globally," Wine Australia's Asia director Lucy Anderson said. China and Hong Kong represent the third-largest export market for Australian wine by value, at more than Aus$268 million (US$262 million), according to official figures. Exports of Australian wine valued at more than Aus$10 per bottle to mainland China leapt 62 percent over the past 12 months to 3.65 million litres.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asia\s biggest wine expo opens in hong kong Arab Today, arab today asia\s biggest wine expo opens in hong kong

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asia\s biggest wine expo opens in hong kong Arab Today, arab today asia\s biggest wine expo opens in hong kong

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday