Sparkling Champagne sales ease gloom over ravaged vineyard By Reuters
[ad_1]

PARIS (Reuters), Champagne sales will reach a record four-year high thanks to strong exports to Australia and the United States, according to SGV, a lobby group representing champagne wine growers. They also said that Brexit had not affected volumes.
Wine producers who will face the worst production in 40 years by 2021 due to frosts, mildew and other fungus-related attacks in their vineyards should be encouraged by this forecast.
The closing of bars and restaurants in the aftermath of the pandemic was another problem for the sector.
In 2021 however, sales will rebound due to the gradual reopening markets and economic recovery. Compare this to the 297 million bottles sold in 2019 before COVID-19. This is a comparison with SGV’s benchmark year of 2019.
Maxime Toubart, Chairman of SGV, stated that while it was not a difficult year for winemakers in their memories, things have improved on the trading front.
This recovery was led by the exports, with sales from January to August rising 11.9% in comparison to the same time last year and falling 2.4% inside France.
Champagne is usually made from wine blends of the preceding year and older.
The estimates are a total from wine growers and large champagne houses such as family-run Taittinger, LVMH’s Moet & Chandon and Pernod Ricard (PA)’s Mumm.
The SGV stated that Britain’s 2020 exit from the European Union resulted in more paperwork, but it did not impact champagne sales.
Russian legislation that forced foreign champagne producers not to put a “sparkling” label on their bottles didn’t apply.
Champagne industry group CIVC asked producers to refrain from Russia after the July law was introduced. However, producers agreed last month to resume exports.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.
[ad_2]