Fine wine news

Wine merchants are calling on Bordeaux chateaux to place reasonable prices on the 2011 en primeurs.

Speaking ahead of the campaign launch at the end of March, Jean Pierre Rousseau of Bordeaux negociants Diva, told Decanter.com: "If the prices are intelligent this year, there will be an en primeur campaign if not, things will be complicated.

"Not all chateaux perhaps realise the effect their high prices had last year."

Indeed, Christophe Salin, the managing director of Domaines Barons de Rothschild, which includes Chateau Lafite, told the news provider that many chateaux came across as being arrogant during last year's campaign regarding timing and prices.

Moreover, it is known that the 2011 en primeur is not going to be as good as the past two vintages. Some merchants are comparing it to the 2008 vintage, which could indicate where prices might be at in the coming months.

Farr Vintners' Stephen Browett stressed that chateaux will have to price carefully so as not to push away any buyers.

He told Decanter.com that the wines "must come out at or below current 2008 prices in order to have any viability", while Sherry-Lehmann's chief executive Chris Adams said that there might not be much of an appetite for en primeur during the economic downturn when the vintage is "unspectacular".

The world's economic climate could also have an influence on the en primeur market as buyers look to examine their investments with more scrutiny.

Earlier this week the Liv-ex Fine Wine Exchange suggested that demand for en primeur wine could be strong if they do not reach the high prices seen last year when premiums of 20 per cent on average were imposed.

It also suggested that the campaign could reignite interest in first growth wines this year, helped along by economic growth in China and Robert Parker's in-bottle scores for the 2009 vintage.

Posted by John Yates