Global Crisis: Champagne sales fall by 16 pc

London, Dec 23: Champagne sales fell by 16.5 per cent for the month of Oct compared to the last month, according to the latest figures from France€™s champagne board, the CIVC.

Exports to Britain fell by 8 per cent in the first nine months of this year, while sales to the US were down by 17 per cent.

These falls were recorded before the full impact of the financial storm, according to media reports here.

But the Daily Telegraph quoted Pol Roger president Patrice Noyelle as saying: "The credit crunch and the slowdown in the real economy are starting to hit us."

'You need to feel good, to feel happy to drink champagne. It's a way of life. And when the environment is not so good, people perhaps don't feel quite like drinking as much,' said CIVC spokesman Daniel Lorson.

But he added, "Champagne can be a remedy to the current atmosphere."

OneIndia News (With inputs from Agencies)