French spirits exports plunge 20% in first quarter as inflation hits, industry says

French spirits exports plunged 20 per cent in the first quarter of the year after rising in 2022 as inflation prompted consumers around the globe to shift away from pricey alcohol, the Federation Francaise des Spiritueux said on Tuesday.

“The upturn was short-lived since exports at the start of the year plunged due to inflation, the effects of which are becoming global. For the first time since the health crisis, the export market is in decline,” FFS said in a statement.In France, where alcohol consumption has been in decline, sales volumes in retail shops dropped 4.4 per cent in value to €5-billion in 2022.

“The total reopening of places of conviviality, coupled with a dynamic offer resulted in an increase in annual sales of 51.8 per cent in this segment, representing a total of 20.1 million litres,” FFS said.

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