DECRYPTION – Many agricultural and agri-food sectors, which are very export-oriented, are benefiting from a euro at half mast against the greenback.
After two difficult years for wine exports, weighed down across the Atlantic by the introduction of Trump taxes, the return to grace of the flagship of French agricultural products is undeniable. Since January, exports of French wines and champagnes have reached 5.9 billion euros according to the Agricultural Cooperation. A record since 2006.
In volume, they reached 7.2 million hectoliters, against 7.5 million two years ago. Even though China, a major market for the sector, remains very affected by the incessant sanitary stop and go. “It is estimated that a third of this rebound in volumes is linked to a currency effect”, supports Quentin Mathieu, head of economy at the Agricultural Cooperation. As with wines and spirits, the second largest contributor to the French trade surplus, many agricultural and agri-food sectors, which export heavily, are benefiting from a euro at half mast against the greenback.
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The gain can be significant, illustrates Antoine Leccia, at the head of the Federation…