Talking Trade

The value of wine that traded on the exchange increased for the second week in a row. Bordeaux’s share rose to 71.8%. This is the highest it has been at any point during the En Primeur campaign, despite trade amongst the First Growths falling in both absolute and relative terms over the last seven days. Burgundy fell to 7.3% after a strong start to the month.

The recently released Sassicaia 2014 was top of both trade by value and volume, contributing to the increased share of trade for Italian wines. Coinciding with the release of its 2016 vintage, Figeac was the most traded Bordeaux brand, accounting for a greater percentage of trade by value than each of the First Growths.

Bordeaux 2016 Update

This year’s En Primeur campaign entered its final stretch this week. On Monday two potential 100 point wines, Ausone and Leoville Las Cases, came out at prices that left the consumer with some value. Eglise Clinet was also released at a nicely poised price.

Tuesday saw the release of Figeac and Conseillante at the same price as each other. Both of these Chateaux opted for eye-catching, above average price increases, reflecting the quality of their wines and the strategic repositioning of their brands.

Later in the day Lafite’s second tranche finally entered the market. Although the price was not considered bad, the confusing and convoluted structure of the release dampened enthusiasm.

Vieux Chateau Certan closed the campaign on Wednesday with an offer that left little value for the consumer.

Liv-ex’s summary of En Primeur 2016 will be published next week, alongside the announcement of the results of our Members’ Survey competition.