From deconsumption to the devaluation of vines: two rooms, two atmospheres for wine sales in France, depending on whether the appellation is popular with the markets or not according to the latest data from SAFER.
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n 2023, the National Federation of Land Development and Rural Establishment Companies (FNSAFER) recorded 8,770 vineyard transactions covering an area of 16,000 hectares and a turnover of €1.2 billion. That is an 8% drop in the number of transactions compared to 2022, a 13% drop in surface area in one year, but a 16% growth in value. These dynamics can be explained by a multi-speed wine land market (see infographics below). Behind the average increase of 1.5% in the price of AOP vines in 2023*, to reach 153,500 euros/ha, there are leaps (+19% in Saumur, +17% in the Saint-Joseph, Côtes appellations). du Jura or L’Étoile…) and falls (like the Côtes du Rhône in the Gard or the Drôme). Overall, the engine seems to be stalled for many AOPs in Bordeaux and the Rhône valley where the red wine crisis is taking an increasing toll.
Generic red Bordeaux vines have fallen below €10,000/ha
“There are different dynamics, quite simple to remember: the entire northern half of France where prices are increasing at the scale of the basins and a large quarter in the South-West and Languedoc-Roussillon where prices are decreasing at the scale of the basins. » note at a press conference this May 22 Loïc Jégouzo, deputy to the director of the studies department of FNSAFER, who specifies that “the red wine crisis is intensifying in Gironde. Generic red Bordeaux vines have fallen below the €10,000/ha mark. This is a price that has decreased by 45% in 5 years. We see a differentiation with the generic white Bordeaux which is progressing. »
In details, “the wine crisis hitherto mainly affected Bordeaux and Côtes de Bordeaux, it now concerns the vines of Médoc (-29% in Médoc and -17% in Haut-Médoc), the satellites of Saint-Émilion (- 6% ) and even Pessac-Léognan is starting to be impacted (-10%)” analyzes the SAFER report, pointing out that the prestigious municipal appellations (Pauillac, Pomerol, Saint-Julien, Margaux) are “stable, not counteracting this decline”. In the closed French circle of prestigious appellations, “only the Côte d’Oriennes appellations continue their rise” (+13% on white premier crus).
Disparities
Very sensitive to market trends, wine land remains valued but is becoming cautious in Champagne (with a drop in sales in Marne, echoing the decline in sales of Champagne sparkling wines) and is sluggish in Cognac (prices falling by 6%, the previous decline dating from 2001: -1.1%, in response to falls in sales in the United States and China). The vine market is also dependent on adaptation to climate change. This is evidenced by the trend “in Alsace-East: the increase of 4.1% hides disparities both between the two departments and between the plots, the most sought after being those classified as grand cru, planted with pinot noir, or resistant to drought” notes SAFER.
*: The price of AOP vines excluding Champagne is €82,200/ha, that of eau-de-vie vines is €56,600/ha and of non-PDO vines is €15,000/ha.
