It is a holiday season like no other. Just as we started to wind down, news came out of a mutated Covid-19 strain, more restrictions and travel chaos, but also of vaccine rollout and (dare we whisper it) talk of a Brexit deal. 2020 has continued to keep us on our toes to its very end.
In this short but dynamic week, the Liv-ex 50 index rose 2.3%. Bordeaux’s trade share by value once again dipped below 40%, while Burgundy took a solid 20%. Demand for Italian wine rose, with the country taking 18.6% of market share in the past week. Tuscany accounted for 54.4% of Italy’s trade by value, while Piedmont for 44.8%.
The ‘Others’ category (7.1%) also enjoyed an uptick in activity. Led by Wine Spectator’s Wine of the Year and Vega Sicilia Unico, Spain made up 1.2% of the total trade. Trade of Highland single malts helped push the UK’s market share to 0.6%. In 2020, trade in spirits doubled on the previous best year (2019).
What else happened in the fine wine market in 2020? Read our annual summary of the year here.
Liv-ex remains open
Liv-ex remains open throughout the holiday period – for those of you who would like to continue to trade up until 31st December.
Merchants around the world can offer up-to-date stock to their clients, a selection of over £50m of live offers on Liv-ex, with trading automation – regardless if it’s Christmas or the weekend. This article details how.
An open letter to the Prime Minister
As the UK’s exit from the single market and customs union approaches, James Miles, Chairman and Managing Director of Liv-ex urged the UK Government to change course in an open letter to the Prime Minister, which you can read here. To support the UK fine wine trade post-Brexit, we ask UK businesses to write to their MPs.
Finally, we take the opportunity to wish you all a very Happy Christmas!