Sky Diving Fall of Foreign Wines in Shanghai

It has been more than a decade since the entry of foreign wines into Shanghai market and its tarrif has fallen from 43% to 14%. Wines imported from Europe have always been dominating the market. This year witnesses a sharp increase in importation as the exchange rate of Chinese Yuan with Euro rises and the cost of importation falls. As a result, the retail prices are becoming more and more “attractive and affordable”. In a supermarket in Shanghai, the promotion price of a bottle of 750ml wine imported from Spain is barely 19.99 Yuan.

 

One expert says that the wine consumed in Shanghai is increasing at 15%-20% yearly and the total estimated of this year will be over 50,000 kiloliters. Every day, there will be dozens of foreign wines on sale.

 

The increase of imported liquor such as Brandy and Whisky distilled from wine is even greater than that of ordinary wines. Consequently the retail prices of many liquor has a fall of nearly from 10% to 30%.