Non! Fears over champagne shortage despite cost squeeze

FRENCH champagne producers are warning of a shortage of upmarket fizz ahead of Christmas.

Despite the worst cost of living squeeze in 50 years, producers insist that the wealthy continue to splash out on the sparkling wine. The claims come from Moet Hennessy, whose brands include Veuve Clicquot, Dom Perignon and Moet & Chandon.

Chief executive Philippe Schaus told Bloomberg: ‘We are running out of stock on our best champagnes. As people are coming out of Covid there’s been pent-up demand for luxury, enjoyment and travelling.’ Mr Schaus said demand was so strong that his company was calling it the ‘roaring 20s’. Poor harvests in 2020 and 2021 are likely to have also reduced stocks.

The claims would seem to suggest that a slump in UK sales has been reversed. A survey in April showed Veuve Clicquot had lost 16.7 per cent of its value in a year. Moet & Chandon was down 10.7 per cent and Bollinger had fallen 16.2 per cent.

It comes as the price of champagne has risen, with a bottle of Taittinger Brut Reserve NV up from £36 to £39 in a year.