British wine merchants stockpiling wine and champagne against possible shortages due to Brexit, discover they can’t get their bottles out of Europe.
Many importers fear higher prices after Brexit and have bought huge reserves from wine producing countries, but with so many having the same idea at the same time, there is an acute shortage of freight capacity according to BBC.
The BBC reports today that Majestic Wines has accumulated over 2 million extra bottle as a buffer against anticipated rises in duty and tariffs and wine importer Simon Taylor of Stone, Vine and Sun says:
– I basically can’t get the wine out of Spain or Italy before the shutters come down on 31 December… Huge volumes of wine are being shipped out of Europe. This is about potentially saving a huge amount of money.