Some top Bordeaux vineyards, particularly in the Medoc appellations of Margaux, Pauillac and Saint-Estephe, cut release volumes of their 2018 wines significantly relative to the less-highly rated 2017 vintage, with the result that volumes on sale were down 20 percent overall, according to the Bordeaux 2018 En Primeur Report from the London-based Liv-ex wine market.
Chateau Palmer. Photo: Guy Collins
Margaux vineyards Chateau Rauzan Segla and Chateau Palmer cut their volumes by 40 percent and 30 percent respectively, while Saint-Estephe growers Chateau Montrose and Chateau Calon-Segur reduced volumes by 33 percent and 25 percent respectively, according to Liv-ex.
In Pauillac, Chateau Mouton-Rothschild and Chateau Lafite-Rothschild cut release volumes by 37 percent and 30 percent respectively, while neighboring estate Chateau Pontet-Canet was also down 30 percent, according to Liv-ex.
While reduced yields at some estates may have played a part, notably at Palmer where yields were just 11 hectoliters a hectare, according to Liv-ex, ``keeping back production creates an overhang that can exert downward pressure on future prices,'' Liv-ex said. ``This excess supply will only slow the Bordeaux market going forward.''