Bordeaux '17 Vintage `Heterogeneous' as Sales Start, Liv-ex Says
- Market sentiment for futures improving after ‘nadir of 2013’
- Bordeaux demand delicately balanced as market share declining
Source: Rothschild S.A. via Bloomberg
The 2017 vintage from leading Bordeaux wine estates, due to be presented to global merchants in the region this week, is looking “heterogeneous” following a combination of spring frosts in some areas and an otherwise relatively good growing season, according to a report from the London-based online wine market Liv-ex.
Demand for Bordeaux “en primeur” futures, the system by which wine is sold to merchants and customers while still maturing in barrels before physical delivery, has been under pressure due to volatile prices and a run of mediocre or poor vintages between 2011 and 2013. A price rally over the past two years, combined with critical acclaim for the 2015 and 2016 vintages, has helped to restore buyer confidence.