COGNAC SALES REACH NEW HIGH

The Bureau National Interprofessionnel du Cognac (BNIC) says that Cognac sales will reach a new high in 2007, with a 27% increase from last year. Reportedly, the group is asking producers to keep reserve stocks at 10% to meet global demand. In the year ending April 30, shipments of Cognac rose almost 10%, following five consecutive years of growth.

Europe remains Cognac’s biggest overall market, accounting for 38% of the world’s volume, while the US continues to be its largest export market.