Wine imports boom in China
Updated: 2012-09-05 09:29
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In 2011 wine import volume in China totaled 360,000 kiloliters and $1.398 billion, equaling an average price of $3.87 per liter, according to customs statistics. Bottled wine import amounted to 240,000 kiloliters and $1.273 billion, an average price of $5.42 per liter. Loose-packed wine averaged $1.02 per liter with a total volume of 120,000 kiloliters and $120 million in imports.
Wine consumption is expected to dominate daily life in China in 20 years as public purchasing power increases and more attention is paid to health care. Sales are predicted to top 800 billion yuan in 2030, half of which will be imported. The average annual growth of wine import from 2005 to 2011 hit 31.5 percent, presenting a huge potential market demand.
Domestic wine supply has been inadequate so far with no solutions in sight. China produced 1.157 million kiloliters in 2011, up 6.25 percent from the previous year, but still needs over 200,000 kiloliters to meet demand.