Skip to content
Search
AI Powered
Latest Stories

Champagne and wine prices to spike amid expected shortage

Champagne and wine prices to spike amid expected shortage
Generic iStock image
Getty Images/iStockphoto

Champagne and wine prices are set to rocket by as much as 20 per cent this year, stated reports on Monday (24) amid shortages of popular wines including burgundy and sauvignon blanc.

The French agriculture ministry has warned that 2021 was the worst harvest for 45 years after vineyards were hit by frost and disease. Harsh weather has reportedly battered vineyards in Spain, Italy and France last spring.


The French agriculture ministry warned that 2021 was the worst harvest for 45 years after vineyards were hit by frost and disease.

Tom Ashworth, chief executive at wine distributor Yapp Brothers, has also warned that the price rise will be steep “as much as 20 per cent”

“It’s quite significant given that inflationary pressures in everyday life are mounting,” Ashworth said.

Yapp Brothers currently sells cases of burgundy ranging from £200 to £1,300, so a 20 per cent rise could mean an increase of between £40 and £260 respectively.

The International Organisation of Vine and Wine also warned that global wine levels were “extremely low”.

It said the only large EU wine producing countries that recorded harvests bigger than 2020 were Germany, Portugal, Romania and Hungary.

David Porter, a wine trader at Lea and Sandeman, added, “The harvest was catastrophic. Pinot Noir, Burgundy, Chardonnay and champagne are all down. Add in the shortages of bottles, corks and cardboard boxes and the pressure really is on the industry.”

Andrew Hawes, managing director at Mentzendorff, the UK’s major importer of Bollinger champagne, said, “People have wanted to drink more during the pandemic, but the supply isn’t available.

“Throw in the supply chain issues and Brexit and it’s a classic squeeze,” Hawes said.

The report comes amid fears that Chancellor Rishi Sunak’s new tax regime to ‘simplify’ the alcohol duty system will make bottles of wines more expensive.

The change will cut 15 bands of taxation for beer, cider wine and spirits to just six, but not everyone is happy with the change.

Research by Wine Drinkers UK (WDUK) found 95 percent of the most popular wines will suffer a hike in prices as a result of the change, affecting drinks with an ABV above 11.5 per cent.

More for you

Plant-based ready meal

Plant-based ready meal brand on brink of collapse

British plant-based ready meal maker Allplants has filed a notice of intention to appoint administrators, citing ongoing financial losses, stated recent reports.

Allplants, known as the UK’s largest vegan ready meal brand, has faced mounting losses over recent years. Filing the notice provides the company with a critical window to explore options to avoid liquidation, such as restructuring, refinancing, or negotiating a sale.

Keep ReadingShow less
sottish retail-wholesale

Scottish retail-wholesale figure celebrated at University of Stirling graduation

Entrepreneur and businessperson Stanley Morrice, an influential figure in the retail and wholesale sectors, received an Honorary Doctorate from the University of Stirling at Stirling’s winter graduation held today (22).

Stanley, from Fraserburgh, is being recognised for his services to Scottish food, drink and agriculture. He entered the sector as a school leaver. In 1993, he joined Aberdeen-based convenience stores Aberness Foods, which traded as Mace. He rose to become Sales Director, boosting income by 50 per cent and tripling profits, and went on to be Managing Director, successfully leading the business through a strategic sale to supermarket group Somerfield.

Keep ReadingShow less
consumer cheer
iStock image
iStock image

Consumers cheer up as Budget nerves lift: GfK

British consumers have turned less pessimistic following the government's first budget and the US presidential election and they are showing more appetite for spending in the run-up to Christmas, according to a new survey.

The GfK Consumer Confidence Index, the longest-running measure of British consumer sentiment, rose to -18 in November, its highest since August and up from -21 in October which was its lowest since March.

Keep ReadingShow less
Retail Sales
Photo: iStock

Retail sales take bigger-than-expected hit in October

British retail sales fell by much more than expected in October, according to official data that added to other signs of a loss of momentum in the economy in the run-up to the first budget of prime minister Keir Starmer's new government.

The Office for National Statistics (ONS) said sales volumes have fallen by 0.7 per cent in October. A Reuters poll of economists had forecast a monthly fall of 0.3 per cent in sales volumes from September.

Keep ReadingShow less