En Primeur campaign under pressure
As the recession bites, Bordeaux's en primeur campaign is coming under pressure from British importers to reduce prices. The 2008 vintage will be released for tasting at the end of March before being bottled next year and producers are still deciding at what level to release prices.
Simon Staples, of Berry Brothers said the top producers were considering bringing down prices by 10-15%, and were willing to hold on to stock until the economy improves. But Tom Mann, of Bordeaux Index, said prices would need to come down by half on the 2007 vintage (around £1,400 for a case of First Growth) for there to be an en primeur market this year. Farr Vintners, one of the biggest UK buyers of en primeur has threatened to boycott next week's en primeur tastings unless the majority of châteaux halve their prices. Chairman Stephen Browett says the strengthening of the euro against the pound, combined with the economic slowdown, has made buying 2008 Bordeaux a very unappealing prospect.