Chateau Latour uncorks shock for Bordeaux wines
Chateau Latour uncorks shock for Bordeaux wines
Apr 16, 2012 6
(AFP) - Bordeaux winegrower Chateau Latour will pull out of the traditional "en primeur" or futures market, a vital part of the region's commercial strategy, in a move geared to Asian markets, industry sources said on Monday.
Some traders expressed dismay at the decision, which they fear could herald a shake-up of the sales side of the business that could cut intermediaries out of the market and undermine a popular promotional tasting season.
The renowned first growth chateau's 2011 vintage will be the last Latour to be sold as a futures commodity, in a market which follows the season of barrel tastings held each spring in the southwest of France.
Chateau Latour's director Frederic Engerer announced the chateau's exit from the en primeur system in a letter to Bordeaux "negociants" or traders on Friday.
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