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Cognac exports drop 10.6% in value in 2024, hit by China's anti-dumping probe and economic issues.
Cognac exports saw a 10.6% drop in value in 2024, totaling €3 billion, mainly due to China's anti-dumping investigation and economic struggles.
Despite a slight rise in volume by 0.4% to 166 million bottles, the value fell due to increased shipments of younger Cognacs and a decline in premium VSOP and XO expressions.
Exports to China dropped by 24.2%, affecting major brands like Rémy Martin.
However, the UK and South Africa showed growth as the fifth and fourth-largest markets for Cognac, respectively.
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