Talking Trade – 2020 Northern Hemisphere harvest begins

Harvest came roaring to life this week as a number of wineries in the Northern Hemisphere dusted off their crates and set about bringing in the early fruit.

Notably, the Champagne Houses started their harvest two weeks earlier than last year and agreed to tighter limits ahead of the picking following a decline in demand. On the contrary, the secondary market for the region has seen a surge in performance of late. The Liv-ex Champagne 50 has been the best performing index of 2020, up 4.47% year-to-date, in part due to consistent demand for the much heralded 2008 vintage.

Bordeaux trade share (36.7%) remained flat on the previous week while Burgundy 15.1% rose slightly. The two regions started harvesting their white grapes earlier this week while the reds are expected to begin in the first week of September.

Champagne (8.5%) more than doubled its previous week’s (low) share while Italy (19.4%) and Others (8.8%) drifted, but stayed above their July average.

The USA (7.0%) and Rhone (4.5%) continue to maintain a larger share of trade than 2019.

Vega Sicilia, Ribera Del Duero Unico 2010 was the most traded wine by value this week. Its 2007 vintage also saw activity, helping to lift the region as the majority of ‘Others’ trade.

San Guido, Guidalberto 2018, the little sibling of one of the region’s most famous wines, Sassicaia, was also active – trading at a tenth of the price of the Super Tuscan.

Both Pontet-Canet and Lafite Rothschild 2009 found the bid – the former seeing demand from all corners of the world. Its peak price was recorded in 2012 at £1950, when Parker awarded it 100 points in bottle. Late last year it traded at £1300. It looks set to be one of Bordeaux’s best performers of 2020.

News

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Opus One in the spotlight

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