You will also know that the prices are between 10 – 20% up on last year, which is taking the wind out of a lot of fans sails. Beychevelle came out and upset the apple cart with a 23% price hike and now Pontet Canet has released at nearly 40% up on last year. So is Bordeaux pricing itself out of the market? It depends which market – that of the Western world or that of the East. As far as the Western world is concerned, yes, it is.
It also depends on which Bordeaux we are talking about – hopefully the mid priced wines will now have much more of a look in as those who can no longer afford the huge prices that the top chateaux are demanding will turn to lesser known wines that have a lot to offer. Once the dust has settled I will post in depth on the repercussions of this en primeur campaign – in the meantime here is an update:
Robert Parker has stepped into the mêlée and I quote from the article by the French Sud Ouest newspaper below (translated). The French AFP article which covers the interview with Parker also has reactions from wine merchants.
“The most influential wine critic is alarmed at the “very dangerous game” for Bordeaux that would be a further rise in prices of Bordeaux wines after the en primeur campaign.
The American Robert Parker . . . said “it would be a mistake” to increase prices again.
If the last vintage, that of 2010, comes to “higher prices than 2009, you can expect a financial crisis or the emergence of a bubble for the great wines of Bordeaux,” he warned in recommending a reduction from 10 to 20%.
” Bordeaux is too focused on the rich markets of Asia,” he lamented, saying it would be “a very dangerous game to increase prices because the global economy is very, very fragile.”
“A decline [in price] relative to 2009 would be a smart move,” a “very positive sign for markets and for consumers,” he recommends.”