The French cognac industry said Friday it was losing 50 million euros ($50 million) per month since the imposition of antidumping duties by China and appealed for government help.

Under the offer, VS cognac would have a minimum import price of 144.70 yuan ($20.16) per litre, while "Very Superior Old Pale" (VSOP), aged for at least four years, would be priced at 177.92 yuan.

French Cognac shipments to China reached $1.7 billion last year and accounted for 99% of the country’s brandy imports. Don't miss out on what's happening! Stay in touch with breaking news, as it ...

The French National Interprofessional Cognac Bureau, another trade group, has said that the industry was losing the equivalent of nearly $60 million per month in sales to China since the autumn.