On Tuesday evening the UK wine industry was greeted with the good news that the introduction of import certificates (VI-1 forms) for EU wines is to be postponed until 1 July 2021. While this is a victory for common sense, the battle is not over. The Wine and Spirits Trade Association (WSTA) will continue to argue for the complete abolishment of the forms for reasons well known to Liv-ex members. A reminder of the arguments involved can be found here.
This week Liv-ex reported on the increase in weekend trade as automation continues to be adopted (seen in the chart below) and the story behind Napa Valley mainstay Joseph Phelps in our most recent Spotlight. Neal Martin also posted his latest remarks on two top Joseph Drouhin wines, Montrachet Marquis de Laguiche and Musigny.
Bordeaux (35.5%) remains the most traded region on Liv-ex but has relinquished a large portion of its share since the start of the year (54.5%). Italy took 22.4% of trade, maintaining its firm grip on the year. USA (9.4%) is set to close October with its highest monthly share of trade value ever. Burgundy held steady, while Champagne (8.5%), the Rhone (3.4%) and Others (3.2%) drifted a touch.
Chateau Leoville Las Cases Saint Julien 2007 was the most traded wine by value this week. The 2007 vintage has risen 46% in a little over 12 years from its release. Neal Martin, the latest critic to score the wine, awarded 92 points and believes, “you could broach this now, although it will give another two decades of drinking pleasure”.
Two Italian wines from the 2016 vintage made the top table, Tua Rita Toscana Redigaffi and Tignanello. Antonio Galloni of Vinous scored the Tua Rita Toscana Redigaffi 2016 97 points, just one point shy of the Tignanello 2016 (98). Galloni praised the latter, saying, “I don’t think there is another wine anywhere in the world made entirely from estate fruit that can match Tignanello for quality, consistency and value within its peer group of top-flight reds.”
Screaming Eagle 2017, available only in magnum, continues to see action but has fallen 16.5% from its first trade in early 2020.
Seizing the opportunity: how to grow your sales in a post-Covid-19 world
As Covid-19 restrictions are being put back in place in many parts of the world, online wine sales are surging and as a result, many businesses are stepping up their digitisation efforts. Our latest report, ‘Selling wine in a post-Covid-19 world’ looks at some of tactics wine businesses are employing to grow their sales online. To claim your complimentary copy of the report, click here.