The Future of Wine Futures

Much has been written this year about Bordeaux’s en primeur campaign, and it is unclear whether buying ‘wine futures’ will become a thing of the past. Bordeaux négociants have suffered in the last few years as Chateaux have steadfastly refused to reduce their prices in response to demand. Is it possible that next year’s en primeur campaign could be the last of its kind?

A good deal for negociants

Future of en primeur hangs in the balance (source: Wikipedia)
Future of en primeur hangs in the balance (source: Wikipedia)

The way the system works at the moment, wine is offered for sale based on samples from the barrel offered in the April after the vintage. Historically this has been a good option for negociants to get a good deal on wines that have not been bottled yet. It’s not without risks of course, but in the past it was an exciting way of procuring the top wines before they had been released at a significantly lower price than what was commanded once they were bottled. And of course the price that the negociants pay is significant in terms of how this filters through to the end consumer.

For the last 5-6 years, negociants have shied away from en primeur – it hasn’t offered them a particularly good deal with the Chateaux retaining much of the profits. One weak campaign after another has ensured that the future of en primeur hangs in the balance now. Continue reading

Bordeaux – the AOC Status question

Chateau Pontet-Canet, regularly regarded as one of the wines of Bordeaux that punches above its fifth growth status, suffered a blow recently as the 2012 vintage of its second wine Les Hauts de Pontet-Canet failed to gain AOC Pauillac status. Consequently it will be bottled as ‘Vin de France’.

Chateau Pontet-Canet (source Wikipedia)
Chateau Pontet-Canet (source Wikipedia)

Second wines are made by many prolific Chateaux and are often considered to be wines for the consumer to enjoy while they are waiting for their top wines to mature – embodying the ‘house style’ of the Chateau in a wine that is approachable in its youth. Increasingly second wines of first growth Chateaux like Les Forts de Latour and Carruades de Lafite are being snapped up by the Chinese market. Continue reading