- Reuters
China will not impose anti-dumping measures on EU brandy for now
SHANGHAI (Reuters) -Beijing said on Thursday it would not impose provisional tariffs on brandy imported from the European Union despite finding it had been sold in China below market prices, giving both sides room to breathe in tense trade talks. China's commerce ministry said in a statement it had found that European distillers had been selling brandy in its 1.4 billion-strong consumer market at a dumping margin in the range of 30.6% to 39% and that its domestic industry had been damaged. "Provisional anti-dumping measures will not be taken in this case for the time being," the ministry said, leaving open the possibility Beijing may act in the future.
- Reuters
Shares of European spirits makers jump as China drops provisional brandy measures
(Reuters) -Shares in French spirits makers Remy Cointreau and Pernod Ricard rallied on Thursday after China's commerce ministry said it will not immediately impose provisional anti-dumping measures on brandy imported from the European Union. The EU in July imposed tariffs on imports of electric vehicles from China, which could use the threat of measures on liquor imports as leverage, two analysts told Reuters.
- Reuters
Pernod Ricard forecasts return to growth in 2025
(Reuters) -France's Pernod Ricard on Thursday forecast its sales will grow again next year even as challenges in the U.S. and Chinese markets persist, after reporting an annual 1% drop largely in line with forecasts and its own guidance. The world's No.2 Western spirits maker and its rivals have suffered as a post-pandemic boom in expensive spirits sales has reversed amid high interest rates, inflation and economic challenges in China, the number one market for alcoholic drinks. The maker of Absolut vodka and Jameson whiskey in particular has felt the pressure as retailers and wholesalers in the United States cut back on pricier spirits stock.
