FRANCE: Bordeaux boost offers hope of "hiatus" end
Bordeaux found sales growth in the US and Asia
An on-going price drop for premium Bordeaux has sparked renewed interest in the category, with US and Asia exports soaring, according to a global wine merchant.
Bordeaux prices fell for the third consecutive year in 2013, the first time this has happened since the 1970s, Bordeaux Index said today (30 May). In the first quarter of this year, the average price was down 3%.
In Asia, the company's sales of top Bordeaux were up 30% in the six months to April while US sales for the first four months of the year outstripped the combined total for 2012 and 2013. The rises follow “a hiatus of almost ten years” for leading Bordeaux wines, Bordeaux Index said.
“It was only a matter of time before the picture began to improve,” the company said. “Prices may take a little time to catch up but the essentials are in place for a rally.”
Bordeaux Index said that “soaring prices and disappointing en primeur campaigns” in the region over the past decade saw wine investors turning to Burgundy and the Super Tuscans to find value.
At ProWein this year, Bordeaux negociant Maison Sichel told just-drinks that its sales in China grew by 30% last year.
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