Champagne producers fear that the spread of the coronavirus could stifle business opportunities in Asia, a massive and largely untapped market for the sparkling wine.
"Obviously now the timing is not ideal with the virus," Florent Roques-Boizel, president of Champagne Boizel, told CNBC when asked about exporting his wines to Asia.
"I mean everything has stopped in China completely," she added, sitting alongside her eldest son, Florent Roques-Boizel, whom she tapped a year ago to succeed her as CEO and president of Champagne Boizel. "Obviously now the timing is not ideal with the virus," he told CNBC during a tour of Champagne Boizel's grounds.
Last week, France's finance minister said the government estimated that the coronavirus epidemic would trim 0.1% from the nation's economic growth, citing a heavy Chinese reliance on auto and pharmaceutical sectors. Champagne exports declined from 301.9 million bottles in 2018 to 297.5 million in 2019, according to theAmid Brexit and US tariff concerns, French wine and spirits exports hit a record high in 2019
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