2024-01-20 08:06:54
PLittle shake for the champagne. The famous sparkling wine has not escaped the pressure of inflation. After a record-breaking 2022 vintage, 2023 ended with a slight cold snap. Traffic jams have jumped less in France, but also in the four corners of the planet.
The verdict of the Interprofessional Champagne Wine Committee (CIVC), which brings together houses and winegrowers from this prestigious region, fell on Monday January 15: the number of bottles sold in 2023 fell just below the 300 million mark, to 299 million, i.e. a decline of 8.2% over one year. The champagne loses a few bubbles…
However, in the summer, when the CIVC met, as tradition dictates, to negotiate and set the yields for the next harvest, with supporting sales forecasts, the ambition was still to ship some between 310 million and 315 million. Finally, the decline, already anticipated, increased over the year.
“We have never been this low”
The decline has affected sales in France as much as exports. The French, who were already quibbling over champagne, are increasingly reluctant to choose this sparkling wine. Prosecco, cava, crémant are foamed during consumption arbitrage periods. As a result, France only accounts for 43% of Champagne wine volumes. “We have never been so low on the French market, even in times of Covid. Household morale and inflation weighed, believes Maxime Toubart, president of the General Union of Champagne Winegrowers.
For export, distributors overstocked following the Covid-19 period, faced with the rapid resumption of business, before limiting their purchases in recent months in order to sell the goods. “We are not worried. We are returning to shipment levels before the health crisis. But we are carefully monitoring sales developments in each country”adds Mr. Toubart.
The CIVC is pleased to have maintained the market value. With an average valuation of 8% of the vintages, the turnover of the appellation should remain above 6 billion euros, very close to the historic record set by the 2022 vintage. The price of grapes has increased by 4% to 6%, the harvest was bountiful and winegrowers were able to increase their stocks. “We have never had so much wine in the cellars,” assures Mr. Toubart. The champagne barrels are just waiting to be unmuzzled…
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