Champagne maintains its poise
Wine shops around the world have seen a sharp increase in online activity this past month, with multiple retailers describing the demand as similar to Christmas. Christmas is never a strong period for the secondary market which is dominated by higher value wines with longer drinking windows, but we did see a small rise in volumes traded over the previous week.
Despite the recent strong rally in Sterling the currency remains 6% cheaper than it did three weeks ago offering buyers from US, Asia and Europe a price sweetener. On the back of this the Liv-ex 50 - which tracks the daily price movements of the First Growths - moved a smidgen higher, 0.05%, to close the week at 323.65.
Bordeaux (45.5%) and Burgundy (9.0%) trade slipped this week as Champagne (18.3%) and Italy (17.5%) took market share. Wines from the two latter regions accounted for the Top 5 most active wines this week.
Moet & Chandon, Dom Perignon 2008 led trade share by value for the second week running. Last week, we highlighted the stability of Champagne in perilous times and with the addition of Cristal 2012 and 2008 to the Top 5, the region continues to show its resilience.
Read the full article at: https://www.liv-ex.com/2020/03/talking-trade-champagne-maintains-poise/