In Paris, Pernod Ricard and Rémy Cointreau are down nearly 4% and 11% respectively, while Diageo is down 1.5% in London, after the Chinese Ministry of Commerce today announced the launch of an anti-dumping investigation into 'spirits made from distilled wine imported from the EU and packaged in containers of less than 200 liters'.

The China Liquor Industry Association is behind the investigation: this national body believes that 'dumping behavior on imported brandy products originating from the EU is impacting and threatening the domestic brandy industry'.

As a result, the Chinese Ministry has decided to open an investigation as of today, and will focus on potential dumping practices on these brandies between October 1, 2022 and September 30, 2023.

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