The size of the wine harvest in Bordeaux last year fell by 27% on 2012, according to figures released yesterday (17 March).

Trade body the Conseil Interprofessionnel du Vin de Bordeaux (CIVB) said that the performance represents Bordeaux's smallest harvest since 1991. The harvest has aggravated already-precarious stock levels in the sector and raised fears of significant increases in bulk wine prices, the CIVB warned.

Speaking at a briefing in Paris, the organisation's president, Bernard Farges, said the numbers had brought into sharp relief the key economic changes facing the Bordeaux trade. "The growth curve in exports in both volume and value, which had reached new heights in 2012, has ended,” said Farges. There has been an inversion in our stock ratios and market equilibrium.”

Farges also warned that “a hike in bulk prices of 25% between wine estates and traders, due to a lowering in available volumes, is widely-expected.”