The Liv-ex December Market Report has been published exclusively for members on our Silver tier package or higher. The following is an extract.
November sets further records
November was one of the most active months in years, harking back to the heady days of 2010 when China led demand was driving Bordeaux forever upward. The picture today, however, is quite different. Today, the market has over double the number of merchants trading, twice as many wines, and nearly four times the number of transactions compared to a decade ago.
In 2010, a frenzy of activity in the 2009 En Primeurs, led Bordeaux’s full year trade share to its record high of 93.2%. By contrast, this November, Bordeaux accounted for just 37.6%. (Although it has been inching up since its low of August 2020, perhaps suggesting a naissance recovery). This is due to the continued broadening and diversification of the market. Just this month, Liv-ex saw the first ever trade for Slovenian wine (Marjan Simcic Pinot Noir Selekcija 2015). The Rest of the World category made up 4.6% of trade by value, surpassing the Rhone’s humble market share of 2.9%. Burgundy’s trade share increased the most, from 19.6% in October to 23.3%, while Italy rose from 14.9% to 15.1%. Champagne maintained its share at 9.3%, while the USA dipped from 10.8% to 7.2%.
After a difficult beginning to the year, wine prices have risen for the past six months and the Liv-ex 100 is now at its highest point since the autumn of 2011. The index closed the month at 316.63, up 0.84% on October. The broadest measure, the Liv-ex 1000 index, rose 0.06%, with particularly strong performances from the Italy 100 (2.4%), Champagne 50 (2.2%) and Burgundy 150 (1.1%).
The full report contains additional Liv-ex research and analysis:
- Major market movers: Vintage Champagne
- Chart of the month: Champagne sub-indices year-to-date
- Critical corner: James Suckling’s top German wines in 2020
- In the news: Chinese tariffs, and Mouton Rothschild 2018’s label
- Final thought: Is the Rhone due a breakout?
Liv-ex members on our Silver tier package or higher can download the full report here.
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