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2019 an exceptional year, when concerns loom over 2020

10/03/2020

After 2019 set new records, those in the Bourgogne wine sector remain prudent, in an international context fraught with uncertainty.

• The 2018 and 2019 vintages taken together offer potential sales 7% higher than the average for wine leaving estates in the period 2009 to 2018.
• Transactions in the first six months of the 2019-2020 campaign were impacted by the 2019 harvest, which was smaller than the previous one. Nonetheless, the 2018 vintage continues to comfortably satisfy the demands of the market: Up 20%, for 48% of volumes in the first six months of 2019-2020. This volume of 2018 helped to conserve good figures for bottles leaving estates: Up 3% for 38% of total volumes in the first six months of 2019-2020.
• Export figures for 2019 were excellent: Up 9.2% by volume and up 10.3% in terms of revenue. For the first time, Bourgogne wines even exceeded one billion euros in terms of export revenue. However, the euphoria inspired by this new record was quickly tempered by the international context. The United States, the leading export market for Bourgogne wines, imposed a 25% ad valorem tax, which will be maintained until August 2020. The United Kingdom, the second-biggest export market, is currently negotiating a new trade deal with the European Union, the contours of which remain unknown. Hong Kong, the fourth-biggest market by revenue, has been rocked for more than nine months by political unrest. China, the 10th biggest export market, is in the grip of a major epidemic, whose economic consequences are having a global impact.
• In France, Bourgogne wines grew market share in a modern distribution sector seeking fresh growth opportunities. Meanwhile, Bourgogne wines dominated the offer available via e-commerce, which has become a fully-fledged distribution channel.