China becomes biggest importer of Bordeaux wine

China has overtaken the U.S. to become the largest export market for Bordeaux wine outside the E.U., sources reported.

Statistics from the Bordeaux Wine Council showed that China imported 13.7 million liters of bordeaux wine in 2009, which were valued at EUR 74 million.

However, the U.S. and Japan each bought 11.6 million liters. Four million and two hundred thousand liters were sold to Hong Kong for EUR 109 million.

Due to the global financial crisis, the demand for Bordeaux wine from the U.S., UK and Belgium, the major consumers of the wine, decreased by 44%, 33% and 16% year on year, respectively last year.

It is estimated that the export volume of Bordeaux wine to the Greater China region will increase by 50% as more and more Chinese middle class started drinking wine as a fashion.

Reportedly, sales of wine in China amounted to RMB 44 billion at retail price in 2009, up 12% from a year ago.