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The Burgundy 150 Index of the international trading platform London International Vintner Exchange (Liv-ex), which mainly comprises Grand Cru wines, fell significantly in value in the first six months of 2023, dropping by 8.3 per cent. This halted the five-year upward trend of the Burgundy 150 Index, which rose by 68 per cent during this period.
According to senior broker Robbie Stevens, this index has fallen by around ten per cent since its last peak in October 2022. Some top wines had suffered declines of 25 to 30 per cent, others only five per cent. Although some merchants still expect prices for Burgundy Grand Cru wines to continue to rise due to their scarcity, the reluctance of buyers due to macroeconomic uncertainties is clearly noticeable.
Liv-ex chairman and CEO James Miles described the trend on Twitter as a sign of a "long overdue correction". After all, other regional indices have also fallen since January (see cover picture).
(al / Source: decanter)