Fine wine market in trouble as Chinese demand shrinks

Published Dec 25, 2024

Tridge summary

China's economic slowdown and unusual weather patterns caused by climate change have led to a significant drop in the demand and prices of high-end Burgundy, vintage Champagne, and Bordeaux wines. The fall in demand, particularly from Chinese buyers, and an oversupply in the market due to increased production have worsened the situation. The decline in the fine wine market is expected to continue, with some industry insiders predicting a further decrease in prices. However, some investors are using the current price decline to purchase high-quality wines at low prices. The luxury goods market, including high-end wines, is also being affected by the weak recovery of China's economy.

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

Original content

[Epoch Times, December 26, 2024] (Epoch Times reporter Zhang Ting comprehensive report) China's economic downturn has prompted Chinese buyers to control consumption, bringing an impact to the high-quality wine market. The prices of high-end Burgundy and vintage Champagne have fallen sharply. According to the Financial Times, according to the Burgundy 150 index of the wine exchange Liv-ex, as of the end of November this year, the price of Burgundy wine has fallen by 14.4%; the price of vintage Champagne has fallen by 9.8%, and the Bordeaux wine index has fallen by 11.3%. This is the second consecutive year that the high-quality wine market has been in trouble. As of the end of November this year, Liv-ex's overall high-quality wine 100 index fell by 9.2%. The report quoted Gregory Swartberg, CEO of wine investment company Cru Wine, as saying Swartberg, said, "The situation is very serious. November 2024 is one of the worst months of the year. We are not out of the woods yet." ...

Source: Epochtimes