France: Bourgogne wine sees global growth despite difficult market conditions

Published 2024년 11월 20일

Tridge summary

Burgundy's wine market is experiencing positive growth, with a small 2024 vintage that has managed to maintain reasonable prices, thanks to the replenishment of stocks from the 2022 and 2023 vintages. This growth is evident in both the French and export markets, with a 1.6% increase in estate sales and a 4.6% rise in export volumes, surpassing €900 million for the first time in a decade. The US, Canada, China, and Korea have been key contributors to this growth. However, the BIVB expresses concern over the fluctuating production levels of white Burgundy wines due to climate change. Despite the challenges, the 2024 vintage is regarded as high quality, with balanced white wines and rich, elegant reds.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Burgundy is in a “favourable position” with positive growth in both the French and export market, the head of the BIVB Laurent Delaunay has claimed, despite the low yield of the 2024 vintage. Speaking ahead of the Hospices de Beaune sale at the weekend, Laurent Delauney, president of the BIVB said that despite the small volumes of the 2024 vintage, the BIVB remained upbeat that the prices will remain “quite reasonable” with the 2024 vintage, without the soaring prices that were seen in 2021, the last year that stocks were hugely affected by Spring frosts. He highlighted the contrast between the 2024 and 2021, noting that although the “significant” frost in 2021 had led to “sky-rocketing prices” and negative growth, the situation with 2024 is quite different. The 2022 and then “exceptionally generous” 2023 vintage had helped to provide reassurance ahead of a 2024 vintage, by replenishing stocks in advance and ensuring ample inventories and “reasonable” prices, he said. This helped ...

Source: Thedrinkbusiness