A record number of 2,400 exhibitors are taking part in this year's show according to the organizers with Belarus, Brazil, Egypt, Mauritius and Sweden participating for the first time. "The wine sector is feeling the effects of the economic crisis, just like all the other sectors," said President if Vinexpo, Mr. Xavier de Eizaguirre reportedly.
The head of the French federation of wine exporters had earlier this month predicted a 20% drop in French wine exports for 2009. But the world market is expected to grow over the next three years, with revenues forecast to increase from $330 Billion this year to $390 Billion in 2012.
The world demand for wine continues to be driven by China and Russia, two of the BRIC nations. India seems to have hit some turbulent weather with the hostile policies of the state governments. Brazil continues to make efforts in higher share as is evident from its maiden participation in the show.
The Chinese in fact have made the Bordeaux producers very happy. One Chinese company has just bought majority stakes in a local estate, Ch. Richelieu. A study the results of which were announced at the show concludes that the Chinese prefer the Bordeaux reds as their favourite wines. The presence of Chinese who are "are everywhere, and they have got money," according to one Bordeaux chateau owner exhibiting at Vinexpo, sums up the mood at the show.
The Show is scheduled to last from 21- to 25 June and is being attended by importers. It has its usual featured, conferences and debates as well as guided tastings of wines from various countries, regions, varietal and vintages. Next year it will be the Asia Pacific edition and will be held in Hong Kong on 25-27 May, 2010. It is held every two years in Bordeaux .
Meanwhile, the traditional Sunday party for journalists and producers was shifted from its previous host Chateau Latour to another first-growth, Chateau Lafite Rothschild due to the former’s assertion that this year, it was not the time for grand celebrations. |