The scarce 2021 Burgundy vintage has caused the prices of the wines to rise to a new record high. This is according to a report by the fine wine platform Liv-Ex, which the experts wrote after the campaign "Burgundy en primeur 2021" at the beginning of January. In it, Liv-ex deals, among other things, with the question whether the wines from Burgundy are forcing themselves out of the trade because of their constantly rising prices. For many wine lovers, the wines are no longer affordable.
"These stratospheric prices are limiting Burgundy to an ever smaller number of buyers," the report warned. This is mainly due to the supply/demand ratio, it said, even though the market has expanded with the introduction of new labels. According to Liv-ex, it is becoming increasingly difficult to find good value for money. To bring prices back to a reasonable level, the region urgently needs a number of high-yield vintages.
In 2021, late frosts in April destroyed large parts of the harvest, followed by difficult weather conditions with rain and hail that favoured fungal infestations. Volumes fell by 50 to 85 per cent. Much of the Chardonnay in the Côte de Beaune, especially in Meursault, Saint Aubin and Puligny Montrachet, as well as in the Côte de Nuits was severely affected. As a result of the low availability, prices rose by about 25 per cent.
This had an impact on the secondary market, as buyers were prompted to look for older vintages that were already available. Last year, Liv-ex's Burgundy 150 index outperformed all other indices, rising 26.7 per cent over the year and reaching a record 25.9 per cent of the market. However, Liv-ex pointed out that "these gains were limited to the first part of the year" and described the Burgundy market as "increasingly fragile".
(ru / source: Drinksbusiness; photo: 123rf.com)