A few people I know will go to Bordeaux every April to join thousands of wine experts, negociants and wine merchants to taste the latest vintage of some of the most prestigious wines in the world, the Bordeaux En Primeur.
Despite the highest prices on record, the 2009 en primeur were still expected to see dramatically increased sales in the Asian market. Everyone thought that China would have the most impact; but surprisingly the campaign was disappointing and less successful than planned, according to an article in ‘Decanter’ on August 12, 2010. It was reported that high pricing, small allocations and the reluctance to buy wine as futures in China were to blame.
I have spoken with friends and customers about the 2009 futures and most were not too keen on making purchases. These were people in the trade, either wine investors or suppliers trading with China. Most of them thought the early futures prices were too high to merit typing up capital for two years in an uncertain market. Whether it is worth investing now, and whether these wines will increase in value when they are finally released in 2 years, is questionable. Most would rather invest in current releases, where they are more certain to make instant profits.
Perhaps if en primeur prices for the 2010 vintage are a bit lower, chateaux will fare better and successfully attract the new new Asian investors they counted on for the 2009 campaign.
