Bordeaux Liv-Ex Wine Market Trade Share Drops From 2014
Bordeaux’s share of trade on the Liv-ex online wine market has fallen to a monthly average of 74 percent so far this year from 79 percent in 2014, according to the London-based exchange’s latest Cellar Watch market report.
In 2010, as Chinese demand was driving a bull market in top wines from the region, the share was as high as 95 percent.
The wine market has come through a turbulent seven years, sparked by the 2008 financial crisis and then a selloff driven in part by China’s crackdown on lavish gift-giving. High prices for the critically acclaimed 2009 and 2010 Bordeaux vintages discouraged buyers in the U.S. and U.K., while lesser vintages between 2011 and 2013 proved hard to sell.
“After its trade share plummeted to an all time low of 65.5 percent in June, Bordeaux accounted for 75.2 percent in July,” Liv-ex said. “First growth share held steady,” with the five top left-bank wine estates representing 31 percent of Bordeaux activity and Chateau Mouton Rothschild trading the most.
Within Bordeaux, trading in the 2005 vintage dropped back in July after peaking in June amid a surge of investor interest, as U.S. critic Robert Parker published revised scores for those wines. Trading volume shifted more towards the 2010 vintage during July, according to the Cellar Watch report.
Continue reading: Bloomberg Business
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