Subscriber login Close [x]
remember me
You are not logged in.

Japan eyes Chinese wine market

Published:  23 July, 2008

A newly formed Japanese company will target wine sales in China as its market and economy booms in the future.

Jiangsu Saint Fruit Winery Co is a joint venture by Japanese trading house Marubeni Corp and Asahi Breweries Ltd with each holding a 30% share.

China's Dafuhao Beer company will hold the remaining 40% stake.

A Marubeni statement said "the average yearly consumption of wine per Chinese person still remains as low as 0.3 litre and a further increase is expected," reports AFP.

An initial investment of $12 million (6.2m) will be ploughed into the firm with a new production factory to be built on China's east coast in March.

Jiangsu Saint Fruit Winery will bottle red wine in the factory using its overseas produce - it expects to start selling goods in October 2008.

The company statement said it was targeting sales of 10 million litres by 2013, with sales predominantly focused on the wealthy region surrounding Shanghai.