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Champagne exports hit €4.5bn
With Champagne exports recording a volume rise of 1% in 2014 and annual turnover totalling €4.5 billion (£3.44bn) – the second highest on record – the region is celebrating.
Under agreements made in July 2014 relating to the yield for the 2014 harvest, Champagne growers and houses set a figure of 400 kilos/hectare to be released from reserves, with the possibility of an increase if sales exceeded 307 million bottles by the end of the year.
While exact figures haven’t yet been finalised, the Champagne Bureau has confirmed that Champagne sales have managed to top the threshold, allowing the release of the extra 100 kilos/hectare from the reserve.
This equates to a total of 309.6 million bottles available for the 2014 harvest.
“The Champagne growers and houses are pleased by this return to growth”, according to the Champagne Bureau, which credited the “dynamism of export markets”.
The “Champagne reserve” system, which allows part of the crop to be set aside for good years, is unique to the region. It helps Champagne to cushion the effects of poor harvests and lends in creating stability for wages and supplies in the industry.