According to the latest figures released by the National Bureau of Statistics, the domestic wine production drop is also coupled with sales decline. Total revenues generated from wine sales plummeted 9% year-on-year to RMB 42.137 billion (US$6.67 billion).
According to the latest figures released by the National Bureau of Statistics, the domestic wine production drop is also coupled with sales decline. Total revenues generated from wine sales plummeted 9% year-on-year to RMB 42.137 billion (US$6.67 billion).
China has the world¡¯s second largest area under vine after Spain, and ahead of France and Italy, according to QIV.
But the country only ranked as the world¡¯s 6th biggest wine producer in 2016.
Meanwhile, imported wine volumes and consumption continues to grow. The country imported US$2.714 billion worth of wine, representing a year-on-year growth of 17.58%.
Baijiu, the fiery, sorghum-based Chinese liquor, enjoyed the highest growth rate among all categories.
Its production volume rose by 6.86% to 119.8 million hectolitres and its sales revenue climbed by 14.42% to RMB 565.4 billion (US$89.5 billion) compared with 2016, signalling consumer¡¯s strong demand for the liquor despite price hikes in 2017.
Net profit alone from Baijiu amounted to RMB 102.8 billion (US$16.2 billion), which is a year-on-year increase of 35.79%.
Beer production in the country saw a slight drop of 0.66% to 440.1 million hectolitres last year, while the volume of imported beer grew by 10.8% to 7.162 million hectolitres.
(https://www.thedrinksbusiness.com/2018/03/chinas-wine-production-down-for-5th-year/)