This week brought the announcement that the London Wine Fair would be going virtual for 2021. “Too much uncertainty” meant the event, scheduled for mid-May, would have to head online. But fear not, the organizers are claiming it will be “the most advanced digital show of its kind, with an unrivalled, pioneering offer”.
This follows on the back of a successful online Burgundy week, which took place over a series of webinars and virtual tastings just last week. While the 2019 campaign gathers momentum, back vintages have been moving and the region has had a great start to 2021 – this week the region captured 20.6% of market share by value. In 2020 it took 17.9% and two years prior to that it stood at just 14.5%.
Bordeaux (27.3%) trade share by value slipped to a level last seen between Christmas and the New Year. The 2016 vintage is still the most in favour for the region but 2018 is starting to gain momentum as the vintage becomes physical.
Champagne (11.5%), the USA (16.4%) and Italy (18.3%) are all having strong starts to the year, trading at record levels of market share (helped by a broader range of labels trading).
The Rhone held near its 2020 trade share of 3.4% and Others (2.7%) trade share drifted.
Chateau Lafite Rothschild 2009 was the most traded wine by value this week. Chinese New Year 2021 falls on 12 February this year – it is The Year of the Ox. The latest physical vintage from the Year of the Ox is 2009 and its currently the second most traded by value for Asian buyers in 2021.
Two recently released champagnes joined the top 5, Louis Roederer Cristal 2012 and Dom Perignon Luminous 2010. The Champagne 50 was one of the best performing indices of 2020 and it has carried that momentum into 2021. Seen in the chart below, January trade share is at an all-time high with the number of LWIN11s traded also at a new high.
The 2020 Rhone Report is now free
In November last year, we released our first in-depth report on the market for Rhone wines, The Rhone: Solid as a Rock, exclusively to Liv-ex members. We have now unlocked the report and made it free to all. The 18-page report covers a number of past and present trends. Follow this link and complete the accompanying form to gain access.