The 2023-2024 campaign, following the bountiful 2022 vintage, saw a return to more typical conditions. The exceptionally generous 2023 vintage allowed for significant replenishment of stocks, providing reassurance ahead of a 2024 vintage that is expected to yield lower volumes.
Estate sales boosted by grape transactions
After a 2022-2023 campaign that rebounded thanks to the excellent 2022 vintage, estate sales in the 2023-2024 campaign continued this positive trend, albeit at a slightly slower pace: up 1.6% (2023-2024 campaign vs. 2022-2023 campaign), as the need to replenish stocks was less pressing.
Exports: Several AOCs Drive the Rebound in the First Half of 2024
After two lackluster years in the wake of a rare year in 2021, Bourgogne is seeing an upturn in export volumes in the first half of 2024: +3% by volume, while sales have remained stable (+0.2%) compared to the first six months of 2023).
In terms of revenue, the threshold of 750 million euros was surpassed for the second consecutive year, generating just over 754 million euros for the first half of 2024.
For over 10 years, Bourgogne's main export markets formed a loyal group known as the “Famous 5” (United States, United Kingdom, Canada, Japan and Belgium). These markets accounted for almost 60% of exported Bourgogne wine volumes and just over 50% of sales (average of first six months from 2019 to 2023).
As of the first quarter of 2024, the club has welcomed a new member, Sweden, which has taken Belgium's place. This change has not impacted the significance of this new “Famous 5” in terms of either volume or value.
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BIVB NOVEMBER 3 2024
