Sharp decline in French wine inventories

Tuesday October 23 2018 by Vitisphere

Inventories held at wineries declined much more than at trade level. The former fell from 31.5 to 26.4 mhl (-16%), while the latter dropped from 22.7 to 21.3 mhl (-6%).Inventories held at wineries declined much more than at trade level. The former fell from 31.5 to 26.4 mhl (-16%), while the latter dropped from 22.7 to 21.3 mhl (-6%). - Photo credit : DR

Inventories of wine at trade and production level on 31 July 2018 totalled 47.8 million hl, compared with 55.5 million last year, translating to a drop of 6.7 million hl. The figures were presented by Customs at the FranceAgriMer Wine Council meeting on 17 October.

Good market performance

The drop is the combined result of the all-time low crop in 2017 and very good market performance, as evidenced by the increase in volumes leaving wineries. These rose from 51 to 53.6 million hl between 2016/2017 and 2017/2018. The increase can be ascribed to a rise in appellation wine (32 million hl, + 3.9%) and PGI shipments (13.8 million hl, +10.3%), while non- GIs showed no change on the previous year.

Inventories at wineries fell much more than at trade level: the former dropped from 31.5 to 26.4 mhl (-16%), while the latter fell from 22.7 to 21.3 Mhl (-6%).

Alsace the odd one out

The regional analysis shows that only Alsace saw inventories increase, by 23% to 800,000 hl, despite the fact that like the rest of France it also witnessed a small crop in 2017. The sharp decline in bulk transactions probably contributed to the increase.

 

Region

Stocks on 31/07/2018 in hl

Change on 2017

Alsace-East

804,418

23%

Aquitaine

7,796,843

-17%

Burgundy, Beaujolais, Savoy, Jura

1,773,895

-14%

Champagne

3,868,770

-9%

Charentes-Cognac

322,411

-13%

Corsica

124,586

-44%

Languedoc-Roussillon

5,870,273

-23%

South-West

1,498,732

-18%

Loire Valley, Centre

1,595,150

-8%

Rhone Valley, Provence

2,812,271

-27%

 

 

 

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