Vinexpo Hong Kong attendance almost doubles

Vinexpo Hong Kong’s three day wine fair closes today and exhibition organiser Robert Beynat is already claiming attendance is up 40% on last year.

The convention had an increased floor space this year and featured 840 exhibitors from 32 countries.

Spain, Italy and the US were all present in larger numbers than previously at an Asian wine fair and the German Federal Ministry of Agriculture had financed the German contribution, allowing them to exhibit wines from more than 60 producers.

However, the real focus of the show was the Bordeaux area, which made up 18% of the total number of stands. On the first day alone over 300 people descended on the Bordeaux stands to taste the 2007 vintage.

The biggest topic of conversation was 2009 Bordeaux and when and where it could be obtained.

Despite the region’s undoubted popularity in Asia, and the hope among the châteaux that 2009 will sell incredibly well, there is still uncertainty as to how well en primeur will fare in this new market when the campaign swings fully into action.

Some commentators remain completely assured while others are trying to downplay the potential success, warning that a sudden price increase by smaller, less well-known châteaux could impair sales.

One Bordelais winemaker, Éric Bantegnies of Château Bertinerie, told French newspaper Sud-Ouest: “Patience, tenacity and trust are the masters when dealing with this clientele and their preference for full-bodied red wine”.

John Tsang, finance secretary of Hong Kong, who opened the exhibition on Tuesday, commented on the city’s success as a wine hub since wine taxes were waived in 2008.

“This move has proved to be a winner for our wine industry, even though we do not produce a single grape here,” he said.

“Over the past two years, we have seen robust growth in wine-related business. The value of our total wine imports increased 80% year-on-year in 2008, and a further 45% last year reaching almost US$600 million.

“Since February 2008, Hong Kong has hosted 27 wine auctions, with sales fetching a total of more than US$130m.

"We have even leapfrogged London to become the world’s second largest wine auction centre, next to New York,” he concluded.

Between 2009 and 2013, China’s consumption of imported wines is expected to grow by 60% making it the world’s seventh largest wine consumer, according to a recent Vinexpo study.

Alain Vironneau, president of the Bordeaux Wine Council, noted “There are 100 to 150 million people in China who can afford to drink wine. It is these people, and not only millionaires, that we must reach.”

• Did you attend Vinexpo Hong Kong? If so, what did you think of the show? And how great is the fine wine potential in the Chinese market? the drinks business would welcome feedback from exhibitors and visitors to the show, giving your comments on the value of the event and the power of the Asian buyer. 

  Please scroll down to add your thoughts.

Rupert Millar, 27.05.2010