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Warnings of global champagne shortage over the festive season following surge in demand

Warnings of global champagne shortage over the festive season following surge in demand

Top champagne brands like Moët & Chandon, Veuve Clicquot, Krug, and Dom Pérignon are facing massive supply shortages as demand for the spirited drink is running their stocks dry, following the easing of Covid-19 restrictions.

Company chief executive Philippe Schaus confirmed in a series of interviews that they are indeed running out of stock, and many other luxury brands are reporting increased sales as well.

Warnings of global champagne shortage over the festive season following surge in demand
Warnings of global champagne shortage over the festive season following surge in demand. Picture: Pexels

“We are running out of stock on our best champagne. As people are coming out of Covid there’s been pent-up demand for luxury, enjoyment, and travelling. Poor harvests in 2020 and 2021 are likely to have also reduced stocks,” Schaus told news publications.

He said the demand was so strong that his company was calling it the ‘roaring 20s’.

The comments raise worries that families will be forced to raise a toast with alternative sparkling wine over the festive season.

Schaus also revealed that champagne sales were “very strong” in Europe and “above all, in the US, where we had a very strong quarter”. He said demand for champagne had not been dampened by a global squeeze on household budgets.

Warnings of global champagne shortage over the festive season following surge in demand
Warnings of global champagne shortage over the festive season following surge in demand. Picture: Pexels/ Cotton Bro Studios

Last year in October, IOL Lifestyle reported on how consumers were having trouble finding a bottle of their expensive champagne. During that period, liquor stores, bars, and restaurants were having trouble stocking their shelves with enough wines, beers, and spirits, thanks to Covid-19’s devastating impact on supplies – and thanks to heat waves and frosts that damaged crops.

On Twitter, people were expressing their frustrations on how they cannot get hold of their favourite champagne bottles. According to reports, due to the fall in demand over lockdown in 2020, Champagne houses decided to reduce the number of bottles produced as the Comité Champagne put a tight cap on the yields. Not only this, but many strong vintages were being held back to be released as vintage wines, leaving less to be used in non-vintage blend champagne.

Have you checked out the latest IOL Food & Drinks digital magazine? Read it here.

Original Article