There has been speculation about the recent frosts in Bordeaux and their likely impact on En Primeur 2016, a delayed campaign, perhaps with a smaller volume of stocks being released at higher prices.
Our prediction has come to pass, the release yesterday of Montrose 2016 is the perfect example of the strangeness of the 2016 En Primeur campaign. As it turned out the release price was very attractive indeed, but with our sources telling us that the volume released was between 60% and 20% down on 2015.
As Jane Anson of decanter magazine put it:
Prices are not the main problem that I am hearing for #bdx16. Everyone was told during EP how high volumes were, & yet releases are down.
— jane anson (@newbordeaux) May 17, 2017
If you were lucky enough to secure any then congratulations, you have yourself a bargain, but with availability so significantly restricted there are a great many upset consumers (and professionals!) quietly cursing under their breath! It seems that the trend of Chateaux holding more stock for later distribution is continuing, the long run ramifications of which are an unknown. Reduced volumes SHOULD entail higher prices, but there is always the risk that buyers will look to back vintages instead, or, however unlikely it seems, other wine regions.
Vin-X stand by our assertion that the 2017 frosts might just make the best buys of the 2016 en primeur campaign wines from the 2015 vintage!
Watch this space for more information.