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Confidence and caution on Champagne’s grape market

Jeudi 18 juillet 2019 par Vitisphere

In Champagne, new contracts are being signed. However, there is still a risk that grape supply could exceed demand by the trade.
In Champagne, new contracts are being signed. However, there is still a risk that grape supply could exceed demand by the trade. - crédit photo : CC0 Creative Commons

2019 is the year when contracts are due to be renewed in Champagne and according to Franck Hagard, co-chair of the Champagne brokers’ organisation, “contracts are being signed with peace of mind”, thus refuting rumours that winegrowers are reportedly having trouble finding buyers. Whilst bottle sales in the French market are falling, the amount of grapes sold by winegrowers has been increasing every year since 2008, and grape supply may soon exceed demand from the trade.

It is true that trading companies have more leeway in choosing who they work with, but they want to secure their supplies”, added Hagard. “2017 has left its mark, but growers who work well and whose prices align with the market have no trouble signing contracts”.

Yields to be set soon

Authorised yields for the appellation will soon be announced and should stand at around 10,000 or 10,200 kg/ha. Trading companies and winegrowers experiencing bullish sales would have preferred a higher volume, closer to 11,000 kg/ha. Conversely, some trading companies allegedly argued that yields should be kept below the psychological threshold of 10,000 kg/ha.

Price-wise, there is no talk of any decreases, but increases should be moderate. “That will be decided in September, everyone is keeping their cards close to their chests at the moment”, said Hagard.

 

In Champagne, new contracts are being signed. However, there is still a risk that grape supply could exceed demand by the trade.

 

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