The Liv-ex April Market Report has been released.
Containing all the latest Liv-ex research and analysis, the full issue includes:
- Fine wine holds steady amidst market turmoil
- Major Market Movers: Tariff free Italy
- Chart of the month: Liv-ex 50 in different currencies
- Critical corner: Antonio Galloni on Piemonte
- Final thought: En Primeur 2020: a difficult choice
How to access the full report
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You can download page one – with charts and data – here, or read the text below:
Fine wine holds steady amidst market turmoil
Trade by value was up 26% in March, while the number of transactions and cases traded reached record levels. Activity increased as the wholesale trade moved online and merchants looked to increasingly automate their processes: the number of transactions matched via API exceeded 40% in the final week of the month.
France lost market share to Italy (15.4%), with Burgundy in particular, contributing to the decline. The Rest of the World (9.4%), led by the USA (5.4%), remained in buyers’ sights. Burgundy’s share fell from 20.3% to 12.3%, while Bordeaux maintained its average for the year at 50.3%. The 2010 vintage – revisited by critics in February – accounted for almost a quarter of all Bordeaux trade. The most active wine in March, however, was a Champagne, Dom Perignon 2008, which last traded at £590 per 6×75.
Prices for fine wine were relatively stable when viewed against mainstream financial assets, with the Liv-ex 100 index registering the same monthly fall (1.1%) as Gold, affirming its “safe haven” status. The broadest measure of the market, the Liv-ex 1000, dipped 1.35%, extending its losses back to October 2019, the same month 25% US tariffs were enacted on most European wines. Within its sub-indices, the Bordeaux Legends 40 was the biggest faller, down 2%. So far this year, the Burgundy 150 has seen the biggest decline, down 4%. Only the Italy 100 managed to maintain its level in March (+0.03%). The Italian index has seen a one-year return of 3.9%, which places it as the outright leader in Liv-ex 1000 sub-indices performance. Merchants across the globe have reported a keen interest in the recent releases of Barolo 2016 and Brunello 2015.