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Update on the Bourgogne wines economic situation (3 first quaters 2021)

22/11/2021

Exports of Bourgogne wines are close to break a new annual record

 

In 2021, Bourgogne wines enjoyed growth in terms of exports to almost all markets. That was even better than 2019 . This was mainly due to the 2020 harvest, the boom in consumption during confinement, and government recovery schemes. Over the coming year, however, this may well be challenged by the slim pickings of the 2021 harvest and the potential slowdown of the global economy.

  • The 2020 harvest (almost 1.56 million hectoliters) is still boosting sales from the winery and transactions.
  • The 2021 harvest is estimated to be between 900,000 and 950,000 hectoliters, around half of a normal harvest.
  • Although stocks by the end of July 2021 seemed to be down on the five-year average, they are being supplemented by equivalent stocks in the négoce trade.
  • In terms of exports, growth was strong, with results even better than 2019, up 21.8% by volume and 26.4% in terms of revenue for the first nine months of 2021 compared to the same period in 2019.
  • In France, Bourgogne wines continued to show growth, particularly thanks to their presence across all kinds of retail outlets.

 

Frédéric Drouhin, Chairman of the Bourgogne Wine Board, gives an update on the situation on the occasion of the Hosices de Beaune auction press conference:

 

 

A law volume, but not the lowest in history

The arrival of the 2021 harvest, of between 900,000 and 950,000 hectoliters, had an immediate impact on transaction volumes for the 2021-2022 campaign.
Sales from the property at the start of this campaign, excluding sales of the 2021 vintage, remain on a positive trend, up 2.3% by volume compared to the same period in the previous year, and stable compared to the five-year average, thanks to the 2020 vintage.

The current situation is not unprecedented, since the average annual harvest of around 1.4 million hectoliters between 2017 and 2021 is identical to that of the previous five-year period from 2013-2017. Bourgogne industry players will nevertheless make sure to carefully supply their markets over the coming year, as they did after the 2016 and 2013 vintages. They remain very vigilant as the current boom in consumption and the small 2021 harvest will require very careful management of volumes and distribution, which will present a major challenge over the next two years.

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