What is 'en primeur? How does it work? Why?
What?
The 'en primeur' or 'futures' are a method of buying wines, when they are not yet in bottle.
How?
The wines are judged and assessed by tasting from barrels in the Spring following the vintage. The trade buyers and journalists taste, assess and critique the wines and then they either promote the wines to their customers or they write glowing reports.
Why?
The Primeurs started in the early 1980's. It serves two purposes.
1. For the Chateau owner it is a great opportunity to improve cash flow. Money will be received within the year after the harvest, as they still have to pay for barrels, storage and bottling over the next 18 months.
2.For the purchaser it is a great way to make sure that we get hold of the best wines direct from the Chateaux in the best condition. Many of the top wines are only made in very small quantities, therefore the Primeur offering may be the best way to secure stock. Eg Chateau Ausone in Saint Emilion produces about 2000 cases every year and Le Pin in Pomerol produce about 500 cases.
Many of the top wines of Bordeaux do not enter the secondary trading market due to small quanties produced, therefore if stock does appear it is usually at a premium...ie Chateau Petrus or Le Pin.
The majestic Chateau Haut Brion...I'll be tasting there next week.The 2009 Bordeaux vintage will be tasted next week at the Union de Grands Crus tastings throughout the Bordeaux region. I will be there tasting at various Chateaux and seeing whether the undoubted hype for this vintage is real. Comparisons have already been made to the legendary 1947 vintage, but I treat this with caution as I am not sure how many of us have tasted extensively from 1947!! From everything I hear it is looking very good. The down side will be the quantities available....as there will be severe allocations of the top wines. And also inevitably the prices. It will be difficult for the UK and US market with the unfavorable exchange rate. But it will be an opportunity for French buyers and also the Far East.
If you are interested in buying en primeurs or hearing more about wines available please email me directly: hamish@bellawines.co.uk
2 comments:
Hi Hamish - thanks for your commetns re Montrose. I am going to the tastings (travelling today) - maybe we will bump into each other!
Cheers
Wow this is interesting. I'll email you for more info. Thanks!
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