Wine sales expected to make further gains in 2017: Live-Ex
Industry report via Live-Ex
11 March 2017
Merchants are predicting further gains for the industry benchmark Liv-ex 100 index, which gained 25% in 2016.
Liv-ex members are expecting the fine wine market to rise further in 2017, according to the results of a survey conducted in February.
On average, respondents expect the industry benchmark Liv-ex 100 index to increase by 7.8% this year to close on 320.6. This would represent a second year of strong gains for the market.
So far, the index is has edged up by 1.7% after posting gains in both January and February.
The vast majority of respondents expect the index to move upwards. 89% of those surveyed predicted that the index will rise; just 9% think it will fall. A small handful expect it to run completely flat.
The most optimistic respondent expects gains of 31%; the most pessimistic predicts a drop of 15.9%.
In 2016, members underestimated price rises for the year. Their average prediction was for gains of 5.4%. The reality was an increase of 24.8%.
Liv-ex members represent the largest pool of professional fine wine traders in the world. Its 440-strong member base is estimated to account for 95% of fine wine turnover globally.
Liv-ex MD James Miles commented:
“The results of the Liv-ex survey suggest that the majority of fine wine merchants are optimistic about the year ahead.
This follows an impressive year for fine wine, which outperformed other markets including Gold, Copper and stocks in 2016, rising 25%.
The outlook for Bordeaux 2016 is also encouraging after a successful harvest. A fairly priced en primeur campaign has the potential to improve sentiment further.”
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