By Peter Brieger (AFP) – Nov 7, 2009

HONG KONG — Chinese wine imports have soared more than ten-fold in the past few years but foreign producers hoping to cash in on the boom are warning the market is fickle and not for the faint of heart.

China is on track to import 10 million cases of wine this year, up from 840,000 in 2004, according to the Hong Kong Trade Development Council (HKTDC).

Wangfujing, Beijing - 2006

Asian wine consumption, excluding Japan, is expected to double from this year to 27 billion US dollars in 2017, the council believes, with much of that growth driven by Hong Kong and cash-rich China.

In another sign of the growth of the market, last week’s Hong Kong International Wine and Spirits Fair, the second such annual event, attracted 520 exhibitors from 34 countries — double last year’s number.

“Many people are shocked by the speed of the growth,” said Raymond Yip, the HKTDC’s assistant director. “But there is a lot of pent-up demand for wine.”

The disposable income of an emerging Chinese middle class has grown and many of its members are choosing wine as a healthier alternative to spirits, Yip said.

“People are getting more health conscious and all of a sudden wine has become fashionable,” he added.

But Raymond Signorello, proprietor of Signorello Vineyards in California’s Napa Valley, said he has been struggling to find the right agent to market his premium reds on the mainland.

“It’s kind of a gold rush,” he told AFP from his booth at the fair.

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[Source] – The Indian Wine Academy

After partnering with France during this year’s show, the 3-day Hong Kong International Wine & Spirits Fair that concluded successfully last week, the Hong Kong Trade Development Council which organises the show has announced that Australia will be the partner country next year.

An agreement between the Australian Trade Commission (Austrade) and the HKTDC was signed last week, following the number of exhibitors taking part this year. Australia was the country with the largest representation at the show with 65 participants.

Fred Lam, executive director of the HKTDC, said: “It seems fitting that when it comes to announcing our partner country for next year we are passing the baton from the Old World to the New World,” France was the partner country during the second edition.

Australia is Hong Kong’s fourth-largest supplier of wine and the value of imports from Australia to Hong Kong between January and September this year increased by 22% compared with the same period last year, according to Drinks Business.

India also showed a decent presence with ten wineries present- Sula, Grover, Indage, UB, Vintage, Big Banyan, d’Ori, Deccan Plateau, Renaissance, and Empire. Mrs. V. Kotwal, CEO of the Indian Grape Processing Board which organised the producers, was very satisfied with the response and hopes that next year will see a bigger participation at the show. The constant stream of people at the Indian stand was quite encouraging.

A group of importers had also visited the show under the banner of Indian Wine Academy and most were pleasantly surprised by the quality of the show, the seminars, amount of wineries present and the business possibilities that came up.

Next year’s Fair will be a big test of the prowess as the Vinexpo Hong Kong also lands up during the same year.