Brexit and the Wine Industry
As Theresa May announced that the UK will be invoking Article 50 by March 2017, what are the Brexit implications on the wine industry? Well according to financial experts Wine Investment is likely to be much more attractive. Reasons are the fall in the value of the sterling and greater demand for diverse investment assets and safe havens. Investors commonly look for safe haven assets in uncertain economic times. And what of supermarket wine? Exchange rate savings will increase average item pricing from their respective producing countries as of 2017. Expect to see alternative wine producing countries such as South Africa, Australia, New Zealand and even China increasing their market share on the retailer shelves. Meanwhile as we approach Brexit officials have an eye on the 42k bottle EU wine cellar. As we disentangle the country from our various financial and legal ties with Brussels we will be wanting a fair share of European assets.