The noose is tightening around the cognac cellars.
This Tuesday, the Chinese Ministry of Commerce (Mofcom) informed the three giants of the sector, Hennessy (LVMH), Martell (Pernod Ricard) and Rémy Martin (Rémy Cointreau), that it was considering including them in the narrowed sample of its investigation into suspicions of dumping in the sector, opened on January 5.
The Chinese alcohol producers' union filed a complaint at the end of 2023, estimating that European brandy producers had agreed between October 2022 and September 2023 to artificially drive prices down.
While more than 100 operators of the prestigious Charente appellation had responded to the first two questionnaires on the subject,
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it's not really a surprise
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, we slide in unison in the corridors of these global spirits giants , whose federation (FEVS) is expected at the Élysée this Friday to provide an update on this subject.
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We are entering an excessively detailed phase of the investigation…
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