Earlier this week, the United States Trade Representative reported that they will maintain the current 25% import tariff on specific EU wines (less than 14% abv) and revisit the decision again in 180 days. The news received a mixed response in the US, but the country’s buying appetite rallied in the wake of the decision.
As a result, US buying is up over 200% from the week prior as the tariffs become the new status quo. The Dollar strengthening against Sterling over the past week has helped buyers too.
Burgundy (23.9%), Italy (11.7%) and Others (5.3%) enjoyed the return of US buying, expanding on their growing trade share from January. Bordeaux (42.8%) stayed subdued as the region’s biggest buyer, Asia, is still at bay due to the Coronavirus.
The 2017 vintage was the most traded vintage by value this week, with the 92-point Beychevelle leading the way. Released at £650 per 12×75 in May 2018, the wine has appreciated 7.4% in value, yet remains one of the cheapest vintages available from the producer.
Haut Brion 2010 was back in the spotlight as critics revisited the Bordeaux vintage to see how the wines had progressed. Originally released in the UK at £7,596 the wine now trades at £6,200. Back in 2012, when writing for the Wine Advocate, Neal Martin scored the wine 96 points. Then, when he revisited the wine two years later (this time writing for Vinous), he awarded it 100 points, describing it as “a stunning wine.”
Interview with VDP
The Verband Deutscher Prädikatsweingüter (VDP) is a German organisation, which promotes the country’s top wines and estates. Ahead of ProWein 2020, Liv-ex discussed, among other points, the history, strength and future of Germany in the wine world.
#LXisXX: 20 years in the fine wine market
2020 marks the 20th anniversary of Liv-ex providing web-based, real time fine wine market information. The world of wine has changed a lot of over the past 20 years and Liv-ex has been there the whole way. Use #LXisXX on social media to help us celebrate the exciting world of wine.