Prices of bulk wines reported to be falling in Burgundy

Jeudi 11 octobre 2018 par Vitisphere

Following a series of short crops since 2013, Burgundy wine prices had reached high levels. The return to average volumes heralds a downward readjustment.Following a series of short crops since 2013, Burgundy wine prices had reached high levels. The return to average volumes heralds a downward readjustment. - crédit photo : Pixabay

Burgundy is expecting a good harvest, a “bumper harvest” even. Such significant volumes are bound to encourage buyers on the bulk market to sit back and wait, whilst they also witness a rather welcome “easing” of wine prices. “Two consecutive large harvests will inevitably lead to lower prices”, explained Louis-Fabrice Latour, BIVB's deputy chairman, at a post-summer recess press conference. “This should be seen as an opportunity to win back positions and recover young consumers”.

Sales under pressure

The consequences are already being felt in the white appellations of Mâcon and Chablis. In the first instance, winegrowers even sold their must at the very beginning of the campaign at “slashed” prices of €450 per cask, compared with €600 to €650 last year. “But this amount barely involves 1,000 hl of must and is not representative of the campaign”, said Marc Sangoy, vice-chairman of the UPVM and chairman of the Lugny co-operative winery. “It involves a minority of wine growers who had to sell quickly due to lack of vat space”. Other products, which are not covered by multi-year contracts and which represent around 20% of the 18,000 hl sold, are fetching around €500-550 per cask.

In Chablis, the very first transactions also indicate a decline, but this is still moderate, given the crop volumes entering wineries. At the end of September, prices fluctuated around €650 compared with €700 to €800, or even more, last year. “We are witnessing a return to normal: between €600 and €700 is a good price”, claimed Adrien Michaut, the new chairman of the federation of Chablis appellations.

 

 

 

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