From today, many Liv-ex members will be able to get commodity codes and ABV values quickly, in bulk, using Wine Matcher. This online tool takes Excel lists of wines and adds these data points in a matter of minutes. It can also add accurate price information like Market Price and last trade price.
This follows last month’s announcement that UK, European and ASEAN commodity codes, and ABV values, would be available via API.
Today’s update makes this important data available to members with no tech development needed. Since Wine Matcher is a browser-based tool, you can simply log on to get started. It is completely plug and play.
Why do I need this?
Commodity codes (sometimes called HS codes) are needed for every wine on shipments between different territories. The relevant code for each wine is determined by a number of variables, such as alcohol level and PDO/PGI. These details are often different across vintages. Obtaining accurate information can therefore be time-consuming and comes with significant risk of error.
Getting the right codes is important because they are used to calculate the Customs Duty or VAT owed when moving goods. The HMRC (UK) website warns that incorrect codes can lead to delays, seizures of goods, and additional charges.
Using Wine Matcher to generate these codes saves time – up to 20 minutes per wine – and ensures accuracy.
What data is available?
Wine Matcher has ABV values for 34,000 different wines. The majority of these have been individually verified by the Liv-ex team. It also provides access to detailed origin information for close to 100,000 different wines, fortified wines and spirits (550,000 if individual vintages are counted). It uses this information to provide correct 8-10 digit commodity codes for wines, fortified wines and spirits to comply with UK, EU and Singapore (ASEAN) standards.
You can also input your own ABV data, which Wine Matcher can use with its product and origin information to generate commodity codes.
As well as providing ABV and commodity code information, Wine Matcher can add detailed price data to your lists.
Who can access this feature?
This feature is available from today for Liv-ex members on the Gold and Black packages – just log in and select “Get LWINs and Prices”. You can also find a short guide to using the new feature, and how to understand the final file, here.
If you are a Liv-ex member on the Bronze or Silver package, your Account Manager will be glad to offer you a demo of the feature.
If you are not yet a Liv-ex member, you are welcome to request a demo and further information from our team using this quick form.