In these unprecedented times, it’s hard to keep up-to-date with all that’s going on. Read our round-up and find out what’s going on in the wine market:
AUSTRALIA AND CHINA: Wine market in jeopardy following trade tensions?
Mainland China is the biggest export market by value for Australian wines, however, growing amount of trade tension between the two countries has resulted in speculation that China may be considering suspending imports. There has been no official confirmation as of yet.
FINE WINE TRADING HITS 10 YEAR HIGH
The Liv-ex Fine Wine 100 index rose over 1% in October, following five months of gains and is now up 4% on the year-to-date. This is the second highest month for trade by value in the last 10 years and much of this has been due to an increase in broader trading.
‘Invest in tech indexes, but hedge your bets with fine wine and stamps, says this strategist’
“Fine wine and stamps as well as art and other collectibles as investments tend to be uncorrelated to tech company equities and other asset classes and as such can serve as an effective hedge,” said Paul Cuatrecasas, chief executive of Aquaa Partners.
‘A FESTIVAL OF WINE’ to go ahead at HK SHANGRI-LA HOTELS
Despite global pandemic concerns, from 24-28 November 2020, luxury hotel group Shangri-La Hotels will host the inaugural “A Festival of Wine by Shangri-La”. The 5 day event is due to take place at Island Shangri-La, Kowloon Shangri-La and Kerry Hotel Hong Kong and comprise of 11 events with the chance to taste over 200 fine wines. Tickets are still available.
160TH HOSPICES DE BEAUNE AUCTION TO GO AHEAD
Now in its 16oth year, the Hospices de Beaune has announced that the annual charity auction will be going ahead on 15 November 2020. The auction will be hosted by Christie’s in the Halles de Beaune as usual and there will be safe spaces available for professional buyers to attend. Private buyers and wine collectors can bid via phone or online.
“All French hospital workers are expecting the sale to continue with professionals present under the Halles. The profits from the sale of the 2020 charity barrel will be used to finance exceptional non-refundable grants related to Covid-19 for hospital patients who have been severely impacted by the health crisis, as well as for the children of deceased agents.
“The Burgundy wine houses have been mobilised for several months for this exceptional sale. Its holding and the auction will also show the world that our country and Burgundy continue to work and produce.”
PINK PROSECCO APPROVED FOR EXPORT – HAVE YOU SPOTTED IT IN STORE?
Notice anything new on the supermarket shelves? Rosé Prosecco has been given the green light to be able to be exported outside of Italy. Producers are wasting no time in getting it on supermarket shelves abroad, with ALDI selling since 2 November.
PERRIER-JOUËT LAUNCHES ECO-FRIENDLY GIFT BOX
After 2 years in development, Perrier-Jouët has launched a new range of fully recyclable, eco-friendly gift boxes ahead of the festive period. The Champagne house is aiming to make its gifting fully sustainable by 2022 having already introduced recyclable shipping cases that are made from grass paper.
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Source: The Drinks Business, Decanter, Market Watch