Bordeaux En Primeur a damp squib

The 2023 Bordeaux En Primeur campaign is turning out to be a bit of a damp squib, with average 2023 wine prices down 22% compared to 2022. But with a lower quality vintage, prices are at the upper end of what is considered fair value.

According to the new report by Wine Lister, a wine rating and market analysis platform, feedback from the trade indicated “a lacklustre reception”.

Wine Lister’s analysis noted that ex-negociant prices should have been between -21% and -34%, while the average price of the 62 wines covered by the data showed prices at -22%.

The Drinks Business magazine’s own analysis has found that of the 2023 estates released to date, 13 estates have been released with an ex-negociant price more than 30% lower than last year’s release price – the minimum demanded by the trade, 15 plumped for a reduction of between 25%-30%, and 11 hovered between 20%-24%. Meanwhile 14 had a release price that was between 10-19% lower than the 2022 price with only three to release at less than 10% lower.

Corney and Barrow’s associate director Joe Muller told The Drinks Business that a lot of wine estates fell short of a pre-established range that the merchant had worked out would offer clients fair value, although there were some notable successes.