In our second podcast with db’s Colin Hay, we discuss why the great châteaux of Bordeaux need to be especially cautious when it comes to pricing this year’s en primeur releases.
Following our previous discussion on the role of Bordeaux’s négociants in disseminating fine wines from outside the region – which you can listen to here – in this podcast we turn our attention to the famous estates of Bordeaux, and why 2024 is such an important year for them. In particular, as the countdown to the annual springtime en primeur campaign begins – which is the time when Bordeaux’s châteaux release the wines from the most recent vintage – we consider the likely demand for their wares, particularly when market conditions are challenging. Indeed, 2024 is a moment when there are big changes afoot for the major properties of Bordeaux, which Hay is at pains to point out as he sends a warning signal to the chateaux before they set the prices for the 2023 vintage – released in around three months’ time. Notably, the big difference between this year’s campaign and previous ones concerns the impact of high interest rates and the effect they will have on the distributors’ willingness to hold stock – which in Bordeaux, means the amount of wine a négociant will risk buying from the châteaux. Looking back to the recent past, Hay explained that the properties of Bordeaux “had become accustomed to the leading négociants taking 100% of their allocation [of wines from the
This Article was originally published on The Drink Business - Fine Wine
