Bordeaux prices continue to slide
The Liv-ex Fine Wine 50 index is heading towards its second consecutive quarterly decline due to lack of demand for the Bordeaux 2012 vintage. Although the Index experienced a slight rise at the end of the summer, a 20% drop in the en primeur price of the 2012 vintage in Bordeaux compared to the 2011 vintage a year ago, has failed to spark a buying trend.
Bordeaux’s wine exports have increased in volume by one percent over the past year, although in value terms the market has fallen by three percent – primarily due to a dip in the Chinese market.
And it's not looking good for 2013 either one producer commented ‘There is no longer hope for a great vintage, that is over,’. The Bordeaux growers are rushing to get their harvests in before the rot sets in. The Bordeaux 2013 harvest is set to be the region’s lowest since 1991, and down by 20% versus last year, according to official estimates.