Wine critics say cheers to Bordeaux's new vintage
Wine critics say cheers to Bordeaux's new vintage
Apr 13, 2013 6(AFP) - Wine professionals declared themselves "pleasantly surprised" with the 2012 Bordeaux vintage but demand from China was expected to be weak due to losses on 2010 wines.
China is currently Bordeaux's biggest market in terms of volume and second in value, but Chinese buyers were expected to stay away this time.
"They won't touch it," said Gary Boom, managing director of Bordeaux Index, with offices in London, Hong Kong and Los Angeles.
Chinese clients are still smarting over their losses on the 2010 vintages, bought when Bordeaux prices soared, only to fall quickly after the wines were sold.
"They've learned that the price can go down as well as up."
Alain Raynaud, vintner and president of the Cercle Rive Droite, a winemakers association, said he had been "very pleased " by the quality of the 2012 wine despite the difficult growing conditions last year.
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