The majority of fine wine traders worldwide expect further significant price increases in 2023. In a study conducted in November 2022, the Liv-Ex trading platform in London surveyed around 625 members in 44 countries. According to its own information, this represents the largest number of professional wine traders worldwide. According to the survey, 60 percent of the respondents expect significantly higher prices. The range of the expected increase reaches up to 45 percent. The minority of pessimists, on the other hand, expects prices to drop by up to 28 percent. 14 percent of the traders surveyed forecast price corrections for Burgundy wines, especially for the highest-valued crus, because "prices are not sustainable in the long term". However, many expect the white wines of Burgundy to have a successful year.
For about 42 percent of the respondents, Burgundy is the most attractive region. Low yields and news of high demand worldwide were cited as reasons for this. Several respondents are currently registering a great interest in white Burgundy wines - according to the study "due to the low supply and the speculative expectations of buyers".
40 per cent said that Champagne was their most sought-after region at the moment. At the same time, the majority recorded a decreasing supply as well as an increasing demand for vintage Champagne. For the vast majority of Liv-ex members, Champagne shows relatively good value for money compared to other regions, as well as "significant investment growth".
Bordeaux also remained a favourite in the wine trade. However, only 9 per cent of the traders surveyed said that this was their most sought-after region. They rated positively the good vintages, reliable quality and good value for money. But only 7 per cent forecast an upswing in Bordeaux with increasing demand. At 3.6 per cent each, California as well as Tuscany are the regions with the highest sales. They also report a relatively high interest for wines from Piedmont. But some traders commented that the prices of the region are now "crazy". At the same time, they observe greater interest in Barolo.
(uka / Source: Liv-ex - Photo: 123rf)