UK wine trade rockets as pound falls

The number of new wine producers opening in the UK hit a record high last year after the number of British vineyards rocketed by a quarter compared to 12 months earlier.

A total of 80 new wine producers launched in the UK in 2017, up from 64 the previous year, and more than double the 36 that opened five years ago, according to analysis by UHY Hacker Young.

Vineyards in the UK have become an increasingly fashionable among City workers looking to invest their bonuses, while prices for vineyards in Britain are much lower compared with more established wine producing areas in Europe.

The report also said that the growth in Uk-based wine producers can also be attributed to the continuing popularity of English wine, particularly sparkling wine. With the recent fall in sterling, English wine has become increasingly competitive in comparison with expensive imported wine from the continent.

UHY Hacker Young partner James Simmonds said: “City workers now have the option of being part of the UK wine scene.

“The high quality of English wine is not only being recognised by domestic consumers but is also starting to win acclaim on an international level.”