The coronavirus pandemic caused the sharpest decline in demand for champagne since world war II. In this regard, the producers agreed to collect less grapes — part of the crop will be destroyed. This is reported by The Times.
360 producers, which account for about 90 percent of purchases of Chardonnay, Pinot Noir and Pinot Meunier grapes, have entered into an agreement with growers. They commit to harvest no more than eight tons of grapes per hectare, which is 22 percent less than last year.
This will cause a fifth of the crop to rot. Sales of LVMH, which, for example, owns the champagne brands Moet&Chandon, Krug, Dom Perignon and Veuve Clicquot, collapsed by 30 percent due to the coronavirus pandemic.
In July, it became known that Russia may raise the price of champagne, such an initiative was made by the Ministry of Finance. The cost of a 0.75-liter bottle will increase from 164 to 169 rubles. The changes will take effect from January next year