Champagne producers blame Brexit for 2016 sales decline

Lanson BCC SA

20/03/2017 09:46

PARIS, March 20 (Reuters) - Sales of champagne fell last 
year as a weaker pound weighed on British demand in the wake of 
the Brexit referendum vote, France's main champagne industry 
body said on Monday. 
    Sales to Britain, still the biggest export market by volume, 
fell 8.7 percent to 31.2 million bottles, the CIVC industry 
association said. By value, British exports tumbled 14 percent 
to 440 million euros ($473 million). 
    Britain's June vote to leave the European Union caused 
sterling to fall against the euro and to its lowest level 
against the dollar since 1985, although it has since edged back 
from those lows. 
    Global champagne sales fell 2.1 percent by volume to 306 
million bottles in 2016, while order value fell 0.6 percent to 
4.71 billion euros. The decline also reflected continued 
economic weakness in France, where sales fell 2.5 percent to 157 
million bottles, the CIVC said. 
    However, champagne shipments to the United States, the 
second-largest export market, rose 6.3 percent by volume and 4.9 
percent by value. 
     
($1 = 0.9294 euros) 
 
 (Reporting by Dominique Vidalon; Editing by Laurence Frost) 
 ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters 
Messaging: dominique.vidalon.reuters.com@reuters.net)) 
 
Keywords: CHAMPAGNE SALES/