En Primeur campaign lacks lustre

This year’s En Primeur campaign has fallen flat, with many UK merchants describing it as sluggish despite some positives. The 2024 vintage boasts fresher, lower-alcohol wines that appeal to modern tastes, and prices have dropped.

With half the En Primeur campaign over, pricing has been mixed. Some producers are basing their price on the price of their cheapest vintage available in the market, while others are dropping as much as 30% on the 2023 vintage.

But it is at the top of the food chain where big drops are being seen. Prices rose significantly towards the end of Covid in 2022, which is considered a high watermark for release prices. Premier Cru Classe Lafite Rothschild and Mouton Rothschild were released at 36.5% and 48.4% of the 2022 release price, but even this hasn’t set the market on fire.

According to Robert Mathias of Lay & Wheeler, only a few wines, such as Château Les Carmes Haut-Brion, have captured attention, helped by reduced production and cult status. Marc Ditcham of Corney & Barrow noted that consumers remain hesitant, influenced by macro-economic pressures and previous pricing missteps. Some wine merchants have opted out entirely, citing limited ageing potential.