The new wine order

How does a pandemic lead to more Champagne sales across Australia? Halliday Wine Companion chief editor Tyson Stelzer considers some recent industry trends and what we can expect to see this year.

WHAT DOES the fine wine market look like in the aftermath of the devastation unleashed over the past two years? Bushfires, smoke taint and drought have taken their toll on production. Chinese tariffs and freight upheaval have disrupted the markets, and the pandemic has wreaked havoc on every front. But just when it looks like every indicator spells doom and gloom for the future of Australian fine wine, against all odds the precise opposite has played out. As I write these words, the most important indicator of the state of the global fine wine market – the Liv-ex Fine Wine 100 Index – set a record off the back of consistent price rises in the most sought-after fine wines in the secondary market over the past 17 months. This represents the longest period of inflation in the fine wine market to date. On the same day as that announcement, the most expensive wine in Australia was unleashed, as Penfolds lobbed its new flagship Grange blend g5 into the market at a cool $3500 a bottle. Meanwhile, the premium sparkling world has never bubbled away more vigorously. Sparkling now represents the fastest-growing wine category in Australia and the world. When global Champagne shipments experienced their biggest decline so far this century in 2020, Australia not only bucked the trend, but also posted the biggest increase in its imports. Last year, Australia’s Champagne imports were up more than 11 per cent to nigh-on its all-time record, elevating it to the fifth-largest Champagne consumption per head in the world. This saw us overtake the UK for the first time, which solidified its position as the world’s seventh-largest Champagne market.

Demand exceeded supply like never before, and I can’t recall a time when the major Champagne houses failed to keep Australian shelves stocked as dramatically as the past year. The forecasts going forward are even stronger, with global Champagne consumption tipped to even exceed pre-Covid levels.

As many consumers redirected surplus travel, entertainment and dining budgets to trade up to fine wines during the pandemic, winemakers and importers experienced unprecedented demand. And this newfound taste for premium wine is not going to revert as we make our way out of the pandemic.

The best wines are increasingly sought after, and it’s becoming more pertinent to secure your allocations the moment they hit the market. We embraced the opportunity to buy direct from makers during the pandemic, and my advice is to make this a permanent habit. Get on the mailing list of all your favourite wineries and secure your supplies of their new releases while you still can. I’m now locking in my order for many of my favourite Australian and imported wines before they’re even released.

This is particularly pertinent as the 2021 vintage rolls into the market. This year delivered most of southeastern Australia a spectacularly cool, long ripening season. The early-release whites we’ve seen to date rank among the finest and most enduring since 2002, and makers are suggesting that reds are equally sublime.

There are far too many Australian wineries worth signing up to, which is part of the motivation behind our commitment to release more reviews more often, with new wines appearing online every week. It guarantees you’ll be first to hear about all the new releases most worthy of your attention.

For what it’s worth, here is my personal list of 13 wineries I’ve ordered from recently: Bellebonne, Bindi, Clonakilla, Cullen, Curly Flat, Henschke, Leo Buring, Mike Press, Penfolds, Pooley, Turkey Flat, Xanadu and Yarra Yering.

Halliday members now have access to more tasting notes more often, released online each week.

The best wines are increasingly sought after, and it’s becoming

more pertinent to secure your allocations the moment they hit

the market.