At this time of year usually it is ‘the waiting game’. The world wine press and buyers have been and gone. Tasted the baby wine scarcely 6 months of age and reported their findings (except Parker of course).
Yet this year 2012 prices have started to come out early and are, so far, what was hoped and demanded by the world wine buyers. Down, some like Mouton, 30% on 2011. Bordeaux has listened and reacted, Hooray! It is only the first trickle of the torrent of price releases but it looks good. It looks as though Bordeaux has finally listened and acted on it. Which is good for Bordeaux’s image. There will be a 2012 primeur campaign. Not like 2011 – charming but expensive and lacking the ripeness of the appellations such as Pomerol, St Emilion and Pessac this year.
2012 was deemed better than thought (though variable). Not 2009 or 2010 for sure but good fruit particularly for Merlot dominant wines (able to ripen before the rains mid October). And it seems will provide good value.
Perhaps a year too late though. There is always a vintage worth of inertia it seems.
It is the Bordeaux cycle. It happened in 2005, prices were hiked for this excellent vintage, stayed high for the resonable 2006, but then stayed high for the mediocre 2007. Bordeaux has a delay in responding it seems. It was only when the world wine buyers turned blue in the face that prices dropped for the pretty good 2008 vintage.
This time the ‘inertial’ vintage was 2011. Expensive cases of 2011 lie in stock along with the 2010s. I know which vintage I would choose!