Asian demand pushes up wine prices
Asian demand pushes up wine prices
Dec 2, 2010 6
Fine wine prices jumped 5 per cent in November, outpacing gains in both oil and gold.
After a pause in late summer, wine prices have rocketed as the Christmas period approaches, with high demand from China and Hong Kong. Monthly volume soared a massive 200 per cent compared to November 2009.
Fine wine has climbed 32.4 per cent so far this year, according to figures from the Bordeaux Index.
This year Chateau Margaux has been a favourite for 2007 and 2008 vintage wine traders in Asia, while Lafite and Mouton Rothschild 2008 prices have experienced the highest rises in Asia after they featured Chinese artwork on their labels.
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