The 2009 Bordeaux vintage, billed as still another vintage of the century, has received less than an enthusiastic response from the Asian markets.   High prices and small allocations have been blamed for the results.   Laurent Ehrmann,  the managing director of a Bordeaux negociant, Barrieres Freres, added that buyers were not blindly buying any wine at any price.  All the big merchants stated that they didn’t get the stock they wanted because of initial allocations.
 
China is still a bit reluctant to dive head first into the futures markets, questioning the integrity and trust in the system.  There is also a lack of confidence in storage conditions in China with many wines heat damaged, something that clearly would have a significant impact upon the high end wine market.  Nonetheless, with China ‘s GDP growth expected to continue for the foreseeable future, it should only be a matter of time before increased interest in futures picks up.

Tags: Bordeaux futures, en primeur