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French Wine And Spirits Exports Decline For Second Year In 2024 Amid Weaker Demand And Market Challenges

by THEFUTURE.TEAM

February 11, 2025

French wine and spirits exports experienced a second consecutive year of decline in 2024, as demand for premium products dropped and the industry grappled with lower prices, a softer Chinese market, and potential tariff threats, according to the Federation of Wine and Spirits Exporters (FEVS).

Key Essentials

Total exports: €15.6 billion ($17.5 billion), a 4% drop from 2023.
Volume: Steady at 174 million cases, but value hit hard in key markets, particularly in China.
China’s imports: Down 20%, accounting for the largest portion of the decline. Other markets like Singapore and Hong Kong also saw decreases of 25% and 12%, respectively, making up 90% of the overall drop.

French spirits exports were especially affected, falling 6.5% to €4.5 billion. This decline was largely attributed to China’s economic struggles and Beijing’s anti-dumping measures on European brandy, especially French cognac. Sales of cognac saw an 11% drop in value, although the volume only decreased by 1%, supported by restocking in the United States and precautionary purchases in light of fears of new U.S. tariffs on French wine.

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The gap between the decline in value and the slight drop in volume is believed to reflect a shift toward younger, less expensive cognac. While this trend has impacted the overall value, it has kept volumes relatively stable.

Exports to the United States, which remains France’s largest export market, showed more resilience, with a 5% increase to €3.8 billion. Despite this growth, the wine sector saw a 3% drop in revenue, totaling €10.9 billion, largely driven by an 8% decline in Champagne sales.

Looking ahead, FEVS Chairman Gabriel Picard highlighted two major uncertainties for the upcoming year: the situation in China and the potential impact of U.S. tariffs. While economic fundamentals in the U.S. appear relatively stable, there are concerns about future tax increases. Regarding China, Picard praised efforts to support the Cognac sector but called for “concrete action” to ease trade tensions ahead of a planned visit from Prime Minister François Bayrou.

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Discovery of a New Dwarf Planet: Is Our Solar System Expanding?

by News Editor

June 16, 2025

A New Celestial Revelation: Meet 2017 OF201

In a groundbreaking astronomical discovery, researchers have identified a celestial body likely to be a dwarf planet far beyond Pluto. This thrilling discovery was made by astronomers from the Institute for Advanced Study in Princeton, New Jersey. Dubbed 2017 OF201, this object is located over twice the distance of Pluto from the Sun, marking it as one of the farthest known bodies in our solar system observable through optical telescopes.

Key Insights

The object is approximately 700 kilometers in diameter, smaller than Pluto’s 2377 kilometers, yet it stands to be the largest found in the outer solar system in over a decade if verified by radio telescopes.
Classified as an extreme trans-Neptunian object, 2017 OF201 joins the ranks of other icy bodies circling the Sun beyond Neptune’s orbit. This region is now known to host other giants such as Eris, Haumea, Makemake, and Gonggong.
Identified in a series of 19 observations over seven years, involving instruments like the Dark Energy Camera in Chile and the Canada-France-Hawaii Telescope, this discovery sheds light on the unexplored corners of the solar system.

Why 2017 OF201 Stands Out

2017 OF201 boasts a unique orbit, with its aphelion over 1600 times the Earth’s distance from the Sun. Meanwhile, its perihelion is 44.5 times the Earth-Sun distance, parallel to Pluto’s path. Such an extensive orbit is evidence of a chaotic past, likely involving gravitational interactions with a giant planet.

Unveiling the Kuiper Belt: A New Frontier

Nestled within the Kuiper Belt, this object hints at the possibility of numerous similar celestial bodies lingering in this icy expanse, largely hidden due to immense distances. As telescope technology advances, the possibility of unveiling more about our solar system’s outermost fringes grows ever more achievable.