South African companies
are increasingly tapping into
the lucrative Asian wine
market, with last year’s Hong
Kong International Wine &
Spirits Fair attracting 19 local
companies.
According to Benjamin
Chau, deputy executive director
of the Hong Kong Trade
Development Council, since
the removal of
all duty-related
customs and
administrative
controls for
wine import in
February 2008,
Hong Kong has
developed into
a wine trading
and distribution
centre for
the region,
particularly
the Chinese
mainland. “And Hong Kong is
the springboard to the larger
China and Asia markets.”
According to Euromonitor
International, wine sales in
Asia amounted to $70.7 billion
or 5.9 billion litres in 2012,
up 64% and 45% respectively
compared to five years ago.
For 2013-2017, wine sales
are forecast to grow 11% per
annum in value terms and 8%
per annum in volume terms.
Sales in China are more
spectacular, with an amount of
$40.5 billion or
4.3 billion litres
in 2012, up
125% and 55%
respectively
compared to
five years ago.
For 2013-
2017, sales
are forecast to
grow 17% per
annum in value
terms and 10%
per annum in
volume terms.
Chau said last year just over
50 companies from across
South Africa had taken part
in the various fairs and shows
in Hong Kong but he was
hoping this figure would
grow. “We are working
hard to grow the number
of participants from South
Africa at the fairs and
we are definitely seeing
an increased interest as
exporters realise the value
of Hong Kong in accessing
China.”
INSERT & CAPTION
Hong Kong has
developed into a
wine trading and
distribution centre
for the region.
– Benjamin Chau
