The wine trade market saw notable activity this week, with Bordeaux leading the charge, followed closely by Burgundy and Champagne. Bordeaux accounted for 41.9% of trade by value, a slight increase from the previous week.
This surge was primarily driven by two back vintages of Château Lafite Rothschild and one of Château Angélus, which emerged as top-traded wines by value.
Bordeaux's Strong Performance
Bordeaux's dominant presence in the market was highlighted by its significant share of 41.9% in trade by value. The region's performance was buoyed by the popularity of back vintages of Château Lafite Rothschild and Château Angélus. Specifically, the 2020 vintage of Château Lafite Rothschild led weekly trade, last trading at GBP 5,625 (EUR 6,601) per case (packed as 1×300). This vintage also saw trading in a 75cl format at GBP 5,000 (EUR 5,868) per 12×75, which is 15.0% below its release price of GBP 5,880 (EUR 6,901) per case. Additionally, Château Lafite Rothschild 2018 maintained its strong performance, trading below its release price but still garnering significant interest.
Château Angélus 2012 also featured prominently, bolstered by a recent score increase from Jane Anson (Inside Bordeaux), who rated it 97 points, up from 96 points. The 2012 vintage, known as the 'Year of the Dragon,' is particularly favored by Asian buyers and marks the year the wine was promoted to Grand Cru Classé A, featuring a special commemorative bottle.
Burgundy and Other Regions
Burgundy followed Bordeaux in trade value, increasing its share from 20.7% to 24.8%. The Rhône and Tuscany also saw positive trends, with their trade shares rising to 3.5% and 10.3% respectively.
Champagne experienced a dip, falling from 11.0% to 8.3% of total trade, after leading the trade last week. The ‘Others’ category, which had a significant boost from a Hibiki whisky transaction last week, also saw a decline from 6.4% to 4.2%. Similarly, Piedmont and the USA experienced a drop in their trade shares to 4.8% and 2.2% respectively.
Spirits Trade
In the spirits market, notable trades included a case of Ardbeg Single Malt Corryvreckan Scotch whisky and a bottle of Macallan Highland Single Malt Sherry Oak Cask 30YO Scotch, which traded at GBP 3,966 (EUR 4,654) per 70cl bottle. These trades highlight the continuing interest in premium and aged spirits within the secondary market.
En Primeur 2023 Campaign
The 2023 En Primeur campaign has been active, with several notable releases coming to market. The following wines covered by Liv-ex were released last week:
- Château d’Issan 2023, GBP 450 (EUR 528) per 12×75
- Château Suduiraut 2023, GBP 519 (EUR 609) per 12×75
- Château Gazin 2023, GBP 582 (EUR 683) per 12×75
- Château Beychevelle 2023, GBP 720 (EUR 845) per 12×75
- Château La Fleur-Pétrus 2023, GBP 1,500 (EUR 1,760) per 12×75
- Clos Fourtet 2023, GBP 840 (EUR 986) per 12×75
- Domaine de Chevalier Rouge 2023, GBP 549.60 (EUR 645) per 12×75
- Château Canon La Gaffeliere 2023, GBP 602.40 (EUR 707) per 12×75
- Château Brane-Cantenac 2023, GBP 534 (EUR 627) per 12×75
- Château Léoville Poyferré 2023, GBP 674 (EUR 791) per 12×75
- Château Lagrange 2023, GBP 372 (EUR 437) per 12×75
- Château La Gaffelière 2023, GBP 540 (EUR 634) per 12×75
- Château Grand-Puy-Lacoste 2023, GBP 546 (EUR 641) per 12×75
These releases underscore the continued enthusiasm for Bordeaux wines, particularly in the En Primeur market, where collectors and investors look to secure highly coveted vintages early.
Most-Traded Wines by Volume
Among the most-traded wines by volume, Bordeaux 2021 was highly sought after. The 2021 Château Grand-Puy-Lacoste, Château Léoville Las Cases, and Carruades de Lafite all saw significant trading activity. Château Grand-Puy-Lacoste 2021 was released at GBP 600 (EUR 704) per case but last traded 53.3% below that at GBP 280 (EUR 329) per 12×75. Similarly, Château Léoville Las Cases 2021 last traded 43.6% below its release price of GBP 1,950 (EUR 2,288) per case. Carruades de Lafite 2021 stood out as an exception, trading above its release price of GBP 1,980 (EUR 2,324) per case.
Additionally, the 2019 vintage of Valdicava Brunello di Montalcino was third on the list of most-traded wines by volume, following the 2013 vintage's appearance last week. Domaine Tempier, Provence Bandol Rosé 2023 also featured prominently, indicating the onset of summer and the rising interest in rosé wines.
Conclusion
The weekly wine trade has seen Bordeaux leading the market, supported by back vintages and strong performance in the En Primeur campaign. Burgundy, Tuscany, and the Rhône also demonstrated notable growth, while Champagne and other regions saw declines. The evolving dynamics in wine trade reflect shifting consumer preferences and market strategies, emphasizing the importance of staying attuned to trends and opportunities within the wine industry.