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The party’s over: French wine exports have plunged 25 percent in the first half of this year as consumers worldwide scaled back on non-essentials amid the global financial crisis, exporters said Thursday.

The Federation of French Exporters of Wines and Spirits said exports totaled 3.28 billion euros, down from 4.35 billion in the same period last year.

The group, which represents 85 percent of France’s wines and spirits exporters, said exports of luxury products such as Champagne and Cognac fell 45 percent and 27 percent respectively. Exports of less expensive table wines fell only 1 percent, the group said.

The Federation’s president Claude de Jouvencel, said in a statement that he expected the market would stabilize in the second half of the year when wine sales are traditionally high because of the holiday season.

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Pre-revolutionary Cognac, great Bordeaux including a Cheval Blanc 1928, and other rareties are being auctioned in December as 18,000 bottles from La Tour d’Argent go under the hammer.

Acknowledged as one of the world’s great restaurants, La Tour d’Argent’s 450,000-bottle cellar is equally renowned.

Now head sommelier David Ridgway has ‘pruned’ the collection to pull out wines ‘from every single wine region of France.’

The auction will offer such wines as Chateau Lafite 1970 and 1982, dozens of vintages of Latour including the 1982, Cheval Blanc 1928 and 1949, and Margaux 1970.

From Burgundy, lots include Meursault Clos de la Barre Lafon 2004, Puligny Montrachet Referts Sauzet 1992 and Volnay Santenots Leroy 1969.

From the Loire there will be a Silex Dagueneau 2005, and a Vouvray Haut Lieu Huet 1919.

Ancient spirits include a Fine Champagne Clos de Griffer 1788, and a Grande Fine Champagne Monnet 1858.

In a press release, Tour d’Argent owner Andre Terrail said the sale would ‘keep La Tour d’Argent in the spotlight’ for a new generation of connoisseurs.

The collection, on sale over two days on 7 and 8 December at auctioneer PIASA in Paris, is expected to fetch more than €1m.

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