Burgundy demand likely to outstrip supply for 2010s

Burgundy 2010, La Tache, DRC, Christies, BBR, Goedhuis, Fine+Rare, Fine Wine

 

The various UK Merchants’ Burgundy Tastings across London last week have done much to bolster the notion that 2010 is another milestone in artisan wine production from the region. Allen Meadows’ Burghound has been as bold to suggest that “the wines are superior to their 2009 counterparts, particularly surprising given the challenging weather conditions that growers faced in 2010”.

The Burgundians are less business like than the Bordelais, Burgundy producers ultimately want their wines to be bought by private clients who store them carefully and genuinely appreciate them, but there is undoubtedly more pressure than ever on allocations and it appears this is on the increase this year.

The majority of growers overcame the challenging weather elements and produced excellent wines, and although yields were down between an estimated 30- 40% on 2009, the net result is stock is in limited supply and buyers may need deeper pockets this year. Prices of the revered DRC wines on world auction markets are reaching stratospheric levels – proving that fine wine is a truly global commodity with cases of exceptional vintages La Tache, for instance, selling at auction last month in London, New York & Hong Kong for £60,000 (Sterling) per case.

Live-Ex on their website quote “Trading members have reported modest price rises of five to ten per cent across all quality levels. Of course, where vineyards (and hence production) were severely affected by the adverse weather, increases can be as high as 40 per cent. All of the fine wine traders that we spoke to said that demand for the Premier Cru and Grand Cru reds was outstripping supply. According to one merchant, “Price is definitely not the problem. Because yields were so low, not enough stock is
available.” Buyers who have not been able to secure allocations will have to hunt for stock on the secondary market, where prices are likely to rise quickly.”

Our wines are now listed here with prices and while the majority are on allocation presently, there are some remarkable value wines to purchase.

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