Credit to photo: Battonage wine news by Symbollicwines.com
Text by: SW Team
This is a live article with the most significant wine news from across the world. The news feed is supplied by the SW’s personal sources.
2024: Global Wine Production Is Lower Than Ever
We don’t say there’s enough wine, but humanity shrinks down its production and that’s what’s scary. The global wine industry is facing a production downturn in 2024, marking one of the lowest yields in decades. This dramatic decline is attributed to a combination of bad weather conditions including droughts and unseasonable rainfall, which have badly influenced the main wine-producing regions worldwide. Europe, where most of wine in general is made – has particularly suffered. Italy, France, and Spain, three countries that collectively account for a majority of the world's wine output – have reported substantial drops in harvest yields because of extreme heat waves and unpredictable storms. The ripple effects of this historic low are expected to reach consumers, with potential price increases and limited availability of certain vintages. High-demand regions like Bordeaux and Napa Valley may see their wines become even more sought after, intensifying competition in an already premium market.
Bunch of grapes destroyed by hailstorm. Photo by: Shutterstock.com/David Bokuchava
Vega Sicilia Tops Liv-ex Power 100
Ribera del Duero finally stands over Piemonte and Tuscany. For the first time in history, a Spanish winery has ascended to the top of the Liv-ex Power 100, a prestigious ranking of the world's most influential wine brands. Vega Sicilia, renowned for its exceptional quality and heritage, claimed the top spot in the 2024 edition of the rankings, surpassing traditional frontrunners like Gaja and Sassicaia. This is a big Christmas present for Vega Sicilia, who has been good for the last year.
This is a big Christmas present for Vega Sicilia, who has been really good for the last year.
This achievement highlights a year of extraordinary growth for Vega Sicilia. Known for its flagship wines like Único, Vega Sicilia has not only sustained its reputation for excellence but also demonstrated remarkable performance in the fine wine marketplace, benefiting from rising global demand for Spanish wines.
The Liv-ex Power 100 ranks wine producers based on several factors, including trade volume, price performance, and overall market influence. Vega Sicilia's success reflects a broader shift in collector and investor preferences, with Spanish wines gaining more reputation in what has traditionally been a French and Italian dominated arena.
Burgundy Prices Get Lower – Super Tuscans Hold Steady
According to recent research from CAP, the secondary wine market in 2024 is showcasing a tale of two regions, as Burgundy wines face significant price declines while Italian "Super Tuscans" maintain their value. These trends highlight evolving dynamics in the fine wine market. Burgundy, long a darling of collectors and investors, has seen prices drop across several key vintages. While the price for Italian fine wine fell by only 4.1% last year, wines from Burgundy were a decline of 14.7%. This tangible downturn has been attributed to multiple factors, including overvaluation concerns and shifting preferences among collectors. Despite Burgundy’s reputation for producing some of the world's most sought-after wines, these price adjustments suggest a recalibration in its market positioning. In contrast, Super Tuscans like Sassicaia and Tignanello are alright. Prices for these iconic wines remain stable, underpinned by consistent demand and a reputation for quality and value. Collectors and investors have shown continued confidence in this category, viewing it as a reliable alternative amidst Burgundy's volatility.
Human Urine Has Never Been Closer to Being Sold For Money
French biotech company Toopi Organics has raised €8.4 million to accelerate its groundbreaking efforts in transforming human urine into a sustainable biofertilizer. Yes, you got it right – they are going to collect it and earn money for it. This innovative approach not only addresses agricultural needs but also promotes circular economy practices, reducing reliance on traditional chemical fertilizers. Toopi Organics specializes in upcycling urine into a nutrient-rich fertilizer by harnessing the power of microbial fermentation. The resulting product offers an environmentally friendly alternative to conventional fertilizers, significantly lowering the carbon footprint of farming practices while enhancing soil health. The new funding will enable Toopi Organics to expand its operations across Europe, establishing partnerships with agricultural stakeholders and regulatory bodies to scale its innovative solution. The initiative also aims to address growing concerns over fertilizer shortages and environmental degradation caused by chemical inputs. By converting waste into value, the company aligns with broader European initiatives to promote sustainable agriculture and reduce waste. Time to remember a good old proverb: money doesn't smell!
Screenshot taken from toopi-organics.com
Brand New Premier Crus in Mâconnais
While the prices for collectible Burgundy lowers, it keeps on complicating it’s AOC system. Burgundy’s Mâconnais region has received a prestigious boost with the elevation of four vineyards to Premier Cru status. This milestone highlights the region's growing reputation for high-quality wines and strengthens Mâconnais’s position within Burgundy’s twisty hierarchy. The four vineyards now recognized as Premier Cru are:
Les Longeays – 7.5ha in Pouilly-Vinzelles
Le Pétaux – 2.76ha in Pouilly-Vinzelles
Les Quarts – 12.45ha in Pouilly-Vinzelles
Les Mûres – 7.09ha in Pouilly-Loché
Mâconnais is traditionally overshadowed by the Côte d’Or, but, as we see, it tries to get even. These new coming 1-er Crus reflect the vineyards’ exceptional terroir and the consistent quality of their wines over time. Historically known for its accessible and affordable wines, the Mâconnais has been gaining attention for its unique expressions of Chardonnay. The new Premier Cru designations will likely drive greater interest in the region, both from wine collectors and enthusiasts seeking hidden gems within Burgundy and preparing for new price ranges.
The new Premier Cru designations will likely drive greater interest in the region
Pouilly-Vinzelles and Pouilly-Loché cover 52ha and 32ha. They contain clay-limestone climats. The representatives of those have beeg fighting with the French bureaucracy for decades to earn this level of respect. New production rules include a restriction of all herbicides. Also, hand harvesting is required and total yields cannot exceed 58 hectolitres per ha. Wines must also be aged until 1 July in the year after harvest, and can only be released for sale from 15 July. Burgundy keeps on complicating things, but we still love it.
