Long-time Fine Wine Editor of The Drinks Business Rupert Millar joined the Liv-ex Insights team this week and wasted no time getting down to business. He published four blogs in his first four days, including breaking news that Louis Roederer launched its first single vineyard still wines. Millar also covered Ornellaia’s 2018 artistic interpretation, Penfold’s new California collection, and the new release of Macallan 1967.
Currency markets were active this week as Sterling rose to £1.15 against the Euro. Sterling also strengthened against the Dollar, reaching a two-year high, closing in on £1.40. Good news for Sterling buyers, but possibly a drag on prices. The LX50 was unmoved on the week.
Bordeaux trade share remained above 40% for the second week. This is in stark contrast to a month ago when the region hit a low of 27.3%.
The 2012 vintage was the most traded by volume this week and narrowly trailed 2015 as the most traded by value. Bordeaux trade breadth continued to expand – 233 different wines have now changed hands in the first seven weeks of the year (834 wines if you include vintages).
Burgundy has seen similar success. More wines traded in the first seven weeks of 2021 than during the entirety of Q1 2020. Trade share of the region reflects this expansion, rising to 26.6% on the week.
Champagne and the Rhone saw a small increase in market share while Italy, USA and Others all drifted.
Chateau Figeac, Saint-Emilion Grand Cru 2015 was the most traded wine by value for the week. Chateau Figeac 2015 is one of the most popular Bordeaux 2015 wines. It ranks fifth in all-time trade by value for the vintage and second in trade by volume. The wine has increased 45.8% from its UK release (£1,114).
2018 Burgundy has been off to a hot start this year as the Burgundy 2019 EP campaign drew eyes to region and the relative value of back vintages. Since 2017 we have noted that the latest physical Burgundy vintage leads trade in the early part of the year. In 2017, it was the 2014 vintage that proved most popular. In 2018, it was the 2015. And now in 2021, the 2018 vintage.
A recent Drinks Business article highlighted the increased interest in second wines due to the pandemic. Le Petit Mouton de Mouton Rothschild featured in this week’s top five and features in 2021’s top 10 most traded wines year-to-date. Carruades de Lafite is also high up on year-to-date trade and only marginally trailed by Screaming Eagle’s second wine The Flight.
New APIs provide wine importers with fast and accurate commodity codes
Liv-ex announced the release of new APIs that promise to reduce the bureaucratic friction for wine importers, letting them generate in real time the commodity codes needed to complete customs paperwork post-Brexit. To find out more you can read the full press release here.