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Burgundy prices have reached a peak, says Laurent Delaunay, president of the Burgundy industry association BIVB, at the start of the 2023 En-Primeur campaign. Many wineries have maintained the prices from 2022, with some even lowering them, especially for appellation wines and regional wines. There are only a few increases, and these are due to "specific reasons.".
Delaunay emphasized that even the top domains, which have allocations and waiting lists, have not raised their prices this year. Some internationally renowned estates have even opened their waiting lists for new buyers and investors. He expects that prices will not rise further in the next three to five years but will remain stable. If the 2024 vintage had been more fruitful, prices might have already softened earlier. The grape prices, which rose sharply between 2020 and 2021, have returned to the level of 2020 after the large harvest of 2023. In 2024, they rose by about five percent.
Many producers have also withheld stocks from the 2023 vintage to compensate for potential shortages in the following year and to keep prices stable. The establishment of reserves from fruitful years, similar to Champagne, is still being discussed in Burgundy. Delaunay also addressed the cooling on the secondary market in an interview with "The Drinks Business": "It is known that many warehouses in the UK, Geneva, and Hong Kong are full of Burgundy vintages," Delaunay explained, "Many investors who have viewed wine as an investment are currently trying to sell their stocks. Prices at auctions are falling, which does not indicate a price increase – and which ultimately is a good thing."
(al / Source: drinksbusiness)