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Bordeaux: the bulk wine market gets back on track

Par Vitisphere Le 22 juin 2010
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Bordeaux: the bulk wine market gets back on track
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wo months from the end of the campaign and the volume of transactions for Bordeaux wines is up by 18% compared to the same period of the last campaign. The rise is even more marked for the Bordeaux apellation: up 21% for red, 30% for rosé and 21% for white. This growth should be taken in context, since the the previous campaign was a gloomy year for the appellation with an extremely marked drop in volumes traded (-40% at the start of the campaign, -29% at the end). This year’s recovery does not then allow for recuperating the losses in volume from the last campaign. However, several indicators enable the confirmation that recovery is on the way: the bulk market has seen more activity in the past three months with an increase in volume of 29% while the overall rise is just 18% for the past ten months. Moreover, ex cellar bulk sales are up by 22% for the first three months of the year, confirming the upturn in purchasing. On the basis of these recent developments, the CIVB is banking on a volume of 5 to 5.1 million hl sold this campaign compared to 4.7 million hl in 2008-2009. Without returning to pre-crisis levels (5.9 million hl), the market is showing a more encouraging level. Prices, however, are noticeably in decline with an average cask price of €878 for AOP Bordeaux red, while it was up to €967 last year at the end of the campaign. This value is equivalent to the 2006-2007 campaign. The average amount masks an ever-widening price range with two pricing regimes: Bordeaux valued at €1000 a barrel for about half of all transactions and prices between €350 and €800 a barrel for the other half.

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