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News
Asia drives Cognac’s global growth
High demand for Cognac from the Asian market has continued to drive the luxury spirit’s global export growth, with volume up 3.2% during 2012.
Exports of Cognac to parts of Asia increased by 7.5% in volume during the year, representing 62.6 million bottles.
The figures, released by the Bureau National Interprofessionnel du Cognac (BNIC), also shows no signs of demand slowing, with like-for-like growth up 12.1% in January and February of this year.
The VSOP blend in particular achieved the highest growth within the Cognac category, up 3.8% in volume and 13.1% in value since the beginning of the year.
Soaring demand for Cognac from various markets around the world has prompted several of the largest producers to increase their stock.
In December 2012 Rémy Cointreau announced the buyout of Cognac Larsen, an independent producer with a large range of eaux-de-vie.
Meanwhile, Pernod Ricard announced in February 2013 it would purchase Le Maine au Bois SAS, including both its stock and distillery. Its stocks will be used to bolster its Martell portfolio, sales of which increased by 25% in Pernod Ricard’s 2011/12 financial year.