If you plan to host a party this holiday season or have something to celebrate, you should buy your favorite champagne now.
Champagne officials are predicting a worldwide shortage of French bubbles toward the end of the year. Part of the reason is that demand for champagne, particularly in the United Kingdom, has bounced back with gusto. Tariffs placed on champagne by former President Trump depressed sales in the United States, which meant more of the product being sold in the UK. But U.S. sales picked up in the spring as consumers were re-emerging from the pandemic. Now, the U.S. in back to stocking up at a time when producers were reducing production in anticipation of a long-term slow down. Yields in 2020 were intentionally lowered by the Committee Champagne.
The shortage will benefit prosecco producers and even sparkling wine producers from the West Coast which face no product shortage.
I suspect that consumers are tired of the pandemic, no matter what its risk, and will find reasons to celebrate this Christmas season. Those with the ability to pay higher prices will indulge in prestigious champagne no matter what the cost. — if they can find it.