The region’s growers and producers are facing surplus inventory due to slumping sales in France and export markets around the world. An estimated 100 million bottles are expected to remain unsold, with little hope for a quick recovery. Sales figures for 2019 released by the Comité Champagne reported that, for the first time since 2009, the total amount of bottles sold dropped under 300 million as Champagne faced increased competition in global markets from less expensive bubbly.
Despite a promising 2020 vintage in the region, with the earliest start date on record, restrictions were placed on this year’s harvest to reduce production and protect against oversupply that would cause prices to plummet. Optimistic producers suggest those reduced yields should spell even better quality for consumers when these wines become available roughly two years from now.
Champagne that’s for sale in our markets right now would have been made in 2018 or earlier. Many of the popular brands offer blends of wines produced in different years, which are assembled by the winemaking team to match a consistent house style. The most recent vintage typically represents a large part of the blend and is augmented by reserve wines. The region’s top wines are usually produced from a single vintage.
Sales slumps and contractions aren’t new to Champagne. Its wine trade has persisted through world wars, global economic recessions and other challenges over its long history.
I'm definitely buying some expensive champagne for new years, for myself. I dont want to remember the end of this year
I was wondering about this just today!
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