2020 was a difficult year for everyone in the wine trade. With professional wine fairs and consumer salons cancelled, restaurants, bar and cafés closed, it’s been a tough time.
Hard to believe then, that there was an increase in the exported volume of wine from the Loire valley from Nantes to Sancerre of 1.5% during 2020 despite Covid and the French wine import tax in the US.
Of the 6 countries that make up 80% of the volume exported, only one, the USA, saw a decline. Mind you, that was a large decline; – 17% in volume and – 22% in turnover. The UK, Germany, Belgium, Holland and Canada all saw increases of between 3% and 26%.
Turnover however (300 M€) took a dip. Minus 5%. Again it’s the USA essentially responsible for this. Hardly surprising when the French wine import tax added an additional 25% on to the price.
Of note is an overall decrease in the average price paid for a bottle of wine from the Loire. 5,37 HT cellar door.
Growers have worked in tandem with their US importers to mitigate the additional tax and I’m happy to report that it has been suspended for the next 4 months while negotiations take place.
Time to get the order books out I’d say before it changes again!
