As you will know from our previous blogposts, the EU and India have been trying to reach consensus on signing a Free Trade Agreement, which could have a significant impact on the (fine) wine industry. Hopes were high that, after 4 years of negotiating, an agreement would be signed last week.
Can we expect a boom in Indian fine wine imports?
There has been an avalanche of reports in the media lately, social media included, about falling demand for Bordeaux wine. Often suggesting that China has fallen out of love with Bordeaux, that it would now be all about Burgundy and that Bordeaux wine prices have but one way to go: South.
It seems to be fashionable these days to engage in a bit of “Bordeaux Bashing”. “Bordeaux would be out of fashion. Grossly overpriced. The bubble has burst. Nobody wants overpriced Bordeaux. Burgundy, even Rhone and Italy is what people want. Sell sell sell”.
December was a tough month for the fine wine trade. Signs were starting to point in the right direction and most economists and financial analysts became more optimistic on the Euro surviving.