Liv-ex regional market share sees new levels as Festive demand for Champagne kicks in

Bordeaux’s share of trade value on Liv-ex hit a new low last week as the regional market mix levelled even further than ever before. A week is of course a tiny window on trade but it still provides an interesting view on the current market dynamics. 31.4 per cent of trade value is a low point we have not yet seen for Bordeaux – but we must remember that this is in the context of a point in time when the market has broadened to its largest number of individual wines being traded with significantly more labels and vintages from regions other than Bordeaux. We have only just got used to seeing Bordeaux’s monthly market share around the average 60 per cent mark.

Regional share of trade by value for the week 4th – 10th October, 2019

Region Share of trade (%) Previous week (%) September (%)
Bordeaux 31.4 59.5 52.1
Champagne 22.3 6.1 7.9
Burgundy 19 22.3 23.2
Italy 17.3 3.2 8.8
USA 3.8 4.2 1.7
Others 3.8 2.3 3.9
Rhone 2.4 2.4 2.4

Source: Liv-ex.com

Champagne leap-frogged Burgundy and Italy to rank second last week accounting for 22.3 per cent of trade value, the wines of Burgundy represented 19 per cent and the Italians 17.3% – a pretty level playing field compared to 2010 when Bordeaux accounted for around 90 per cent of trade. Further afield, Australia was responsible for the majority of trade classed by Liv-ex in the group ‘Others’ with levels at 2.6% of total value, primarily led by the release of Penfold Grange’s 2015 vintage last week.

Top 5 wines traded on Liv-ex for the week 4th – 10th October, 2019

Wine Vintage Last trade price (12 x 75cl)
Taittinger, Comtes Champagne Rose 2007 £980
Sassicaia 2015 £2,200
DRC, Richebourg 2016 £33,000
Moet & Chandon, Dom Perignon P2 2002 £2,700
Salon, Le Mesnil 2002 £5,604

Source: Liv-ex.com

Champagne was responsible for the most active wines in the week and this may in part be the drinks industry stocking up for the looming Festive Season! The 2007 vintage was in particular strong demand, accounting for 40 per cent of the Champagne traded.

We also see that higher levels of trade in Italian wines is being sustained and we will touch on this more in our Market Report due out very soon.

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