France: export of wine to the USA drops
Results show that the importation of French wine into the United States has registered a fall since the 25% customs tariffs became a reality.
The Deputy Foreign Minister, Jean-Baptiste Lemoyne, noted that in November, the exportation registered a 44% contraction in terms of value in respect to the previous months and said that France has asked the European Union to provide compensation for their loss.
Lemoyne, who was presenting Frances business data for 2019, did not provide the overall figures for wine exports.
The data from the US Census Bureau released last month show that in November the American importation of French wine dropped, settling at just 57.1 million dollars (52 million euro) against the 130 million dollars (118.5 million euro) of the previous month, once the customs tariffs began to make themselves felt.
Imports diminished again in December to 55.7 million dollars (50.8 million euro) according to data from the US Census Bureau compiled by the American Association of Wine Economists.
The customs tariffs have been particularly hard on producers at the lower end of the market, where a price increase of 25% can transform an inexpensive bottle into a luxury item only affordable occasionally.
Source: Euronews through Agra Press