China Wine Market Facing Multi-pressure in Q2
By Syrah Suen 2009-6-7 8:23:03
China wine sales and production have showed slipped in the first three months of this year. Though the sencond quarter is the booming season for wine sales, industry has to face multi-pressure.
Figures from National Food Industry Research Center showed that wine production in March has decreased by 9.4%, to 68.7 thousand tons. The total yield of wine production in the first quarter dropped 4.7% comparing to the growth of 63.75% in the same time of last year.
Wine sales also reflected the first decline in January and February for several years due to the global financial crisis and less spending from consumers.
Experts estimated that the growth rate of wine sales and profit in China are expected to slow in 2009. The keen compitition between domestic and oversea wine enterprises will lead to the profit declining.
From China Wine Online