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Report

Bordeaux 2021 | Vintage Report

Our Bordeaux 2021 En Primeur Report is now available to download. Read our full analysis of the new 2021 vintage which is considered to be an approachable, good quality one that differs in style to the wines from the three previous years.

2021 was the coolest and second wettest vintage in the past decade with frosts, rain and mildew. This meant yields were down significantly in some appellations. Meticulous sorting in both the vineyard and the winery enabled producers to select only the best fruit and this created the finest wines possible. 

Critic reports suggested that quality was better than expected and there is a selection of outstanding wines on offer that will bear comparison with the very best and various châteaux have produced some of their highest ever rated wines.

Prospective buyers have been expectantly waiting for the 2021 vintage’s scores and prices. Release prices were expected to be lower than those of the top rated trilogy of 2018, 2019 and 2020 as this is a different style of vintage from a challenging year. However, there were economic reasons that could justify price rises such as inflation, wine shortages and the US dollar’s appreciation against the Euro.

In general, wines have been released at the same price as 2020 – just 1% lower on average. However, some châteaux released at up to 15% discounts, while others at up to a 15% premium with lower scores than last year.

Discover our analysis and the fine wines we recommend fully in this report. While it was a mixed vintage, there are some excellent wines on offer at attractive prices.

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News

Bordeaux En Primeur 2021: Initial Thoughts

The Bordeaux En Primeur 2021 campaign is set to begin this quarter. Critics and the wine trade have descended – in person this year – on the famous French wine region to taste samples of last year’s vintage which will be sold as new releases while the wines are still in barrel.

Performance isn’t just about how good a wine or a vintage is though, growth can be seen across the spectrum. For instance, Château Lafite Rothschild 2013 (Neal Martin, 90 points), is up 110% since release, Carmes Haut Brion 2012 (Antonio Galloni, 94 points) is up 160%.  Younger wines haven’t had the chance to move as far yet, but there are still good numbers to be found: Château Beychevelle 2017 is up 30% and Château Pontet-Canet 2019 45%

Initial Thoughts on the Bordeaux 2021 Vintage

After speaking with winemakers, the négociants who sell the wine, journalists and other members of the trade, the general opinion is that 2021 is a fresh and approachable vintage that’s good quality and that many remarked is similar to other cooler years. WineCap will make a full assessment of it once critics’ scores and release prices are out in the next quarter. 

2021 was a more challenging year than each of the three vintages that preceded it. January started off mild but with some heavy rain. Temperatures were cooler than normal which helped create wines with a fantastic freshness to them with lower alcohol levels. Many producers experienced frosts in April and May. However, some châteaux weren’t affected at all due to their terroir’s elevated topography, as is the case with Pomerol’s Troplong Mondot which had almost no loss of yield. Rain in mid August and September helped promote downy mildew in the vineyard which affected grapes, although this wasn’t a problem for all châteaux. Merlot was the most affected grape as it is an early ripener and is also the most prone to suffer from mildew. This meant that production levels were down, as rigorous sorting in the vineyard allowed only the finest grapes to be used. Many producers on both the Left and Right Bank held off harvesting until as late as possible in the hope of warmer weather to ripen grapes a final bit more. This paid off as those who waited were rewarded with sun and higher temperatures. 

New Technology Helping Create the Best Bordeaux Wines

Producers now have excellent technology at their disposal to help them identify and select the finest grapes possible. In 2021, many châteaux used optical sorting machines that have cameras and/or lasers to determine grapes’ colour, size, structure and chemical composition. Another technique that was employed last year and that is gaining more and more prominence is density sorting. Grapes are bathed in a sugar solution at a sweetness level the winemaker desires. Ripe grapes that meet the desired sugar level sink to the bottom. These methods are enabling winemakers to create fantastic wines even during a challenging vintage. 

Of course, while these machines are gaining more popularity, the hard work begins in the vineyard: taking care of the vines and hand sorting grapes there before further quality control can take place in the winery. Château Pontet-Canet in Pauillac is the posterboy for good vineyard management and – in particular – biodynamic practices as it retained most of its yield in 2021 as it was prepared for inclement weather.  

2021 appears to be continuing a trend of fresher wines that are approachable earlier, while still having the potential to be able to age for decades to come.

Left Bank Bordeaux

As with many of the Bordeaux wines we tasted regardless of appellation, the Left Bank producers were happy with their wines, despite not having been able to make as much of them as they’d like. Pessac-Léognan’s Château Haut-Bailly and Saint-Julien’s Château Beychevelle were textbook examples of the 2021 vintage, delivering fantastic freshness, purity of fruit and fine tannins.

Right Bank Bordeaux

What stood out in Saint-Emilion and Pomerol was the higher percentage of Cabernet Franc used in the 2021 blend, typically with Merlot, as it is a late-ripening grape. Château Angelus’ 2021 Grand Vin contains the highest amount of Cabernet Franc on record: 60%. This gives the wine fantastic freshness and soft tannins. It was a similar story for many producers on the Right Bank, with higher levels of the grape used than usual. 

The Outlook for Bordeaux En Primeur 2021

While we eagerly await the release prices and critics’ scores that will appear during this quarter, the general opinion is that the 2021 vintage has produced fresh, approachable wines that are good quality. With yields down significantly in the case of some châteaux, we can expect there not to be as many bottles released as in previous years. Therefore it’s reasonable to expect that producers won’t be pricing these En Primeur wines at a discount. As always, it’s a question of individual châteaux prices.

Want to keep up-to-date on the Bordeaux 2021 En Primeur campaign? Sign up here to receive the latest news and releases.

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Insight

Is Buying Bordeaux En Primeur still a Good Investment?

Bordeaux – a treasured destination for wine lovers the world over and a renowned benchmark of the fine wine market. But are Bordeaux En Primeur wines still considered a good investment?

Whether you’re a seasoned connoisseur or a budding wine investor, this article will help you decide whether investing in Bordeaux En Primeur wines is a worthy addition to your portfolio.

How buying ‘En Primeur’ wine works

En Primeur, also called ‘wine futures’, is a method of purchasing newly produced wine early on before it’s even been bottled and released onto the market. En Primeur wines are usually shipped to the buyer between 18 months and three years after being bottled.

En Primeur wines are bought ‘In Bond’ (i.e., exclusive of Duty and VAT). They are often cheaper than the future price of those wines when they become available to the open market (10%-30% cheaper, on average) because they’re being bought a good two years before the wine has been bottled, meaning they have only been reviewed and scored by a few critics.

The attraction of Bordeaux En Primeur

Buying En Primeur wine is a custom that dates back hundreds of years exclusively to the world-renowned wine region of Bordeaux, France. Indeed, it is a concept that is still highly regarded today.

It’s no secret that the Bordeaux region produces some of the world’s most prized wines. In fact, Bordeaux has been a staple in the cellars of seasoned wine collectors for centuries.

Sought-after due to their ageing potential – among other factors – buying Bordeaux En Primeur can often be the best way to secure particularly good vintages with limited availability and the strong potential to appreciate over time.

Other benefits of investing in Bordeaux En Primeur wines include:

  • You may be able to request a specific format for the wine, be it halves, magnums, or larger bottles.
  • When you buy En Primeur wine, you’re guaranteed provenance, given that you’re buying directly from the winery.
  • Some Bordeaux wines are simply impossible to obtain if one does not purchase them at such an early stage.

What are the risks involved with buying Bordeaux wine En Primeur?

As with any endeavour to obtain assets, investing in Bordeaux wines En Primeur is not without its risks.

First and foremost, there is no guarantee that any wines you buy En Primeur – be it the latest Bordeaux vintage or otherwise – will appreciate over time. There is, however, always the potential for your En Primeur-purchased wine to lose value over time.

What’s more, some critics of the En Primeur system say that selling wines in their youth doesn’t accommodate a proper review and rating of the vintage in question.

Further, it has been suggested that the Bordeaux negociant system is a ‘delicate’ one, as it can tend to reward buyers with a well-established purchase history, which can make the process difficult for new buyers.

Is Bordeaux En Primeur still a worthy investment?

To answer that question, let’s take a look at the investment potential of the Bordeaux 2020 vintage.

According to the Bordeaux En Primeur 2020 Report, the 2020 vintage was of excellent quality and yielded many outstanding wines. Here are some additional highlights from that report:

  • Production is down slightly in comparison to the 10-year average. This is largely due to hot weather affecting the grapes.
  • Despite disruptive factors such as the coronavirus pandemic, it is a well-priced vintage overall, though less consistent than the previous vintage.

So, is Bordeaux En Primeur still a worthy investment? Here’s what Alex Westgarth, CEO of WineCap, thinks:

‘When it comes to buying Bordeaux wine En Primeur, it all depends on the vintage. Anyone considering it should be aware of the balance between quality and price in a vintage.’

In addition to those wise words, it’s also important to keep in mind that it’s still quite early to be drawing such conclusions about the Bordeaux 2020 vintage.

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Categories
Regional-reports

Bordeaux 2021 | Vintage Report

Our Bordeaux 2021 En Primeur Report is now available to download. Read our full analysis of the new 2021 vintage which is considered to be an approachable, good quality one that differs in style to the wines from the three previous years.

2021 was the coolest and second wettest vintage in the past decade with frosts, rain and mildew. This meant yields were down significantly in some appellations. Meticulous sorting in both the vineyard and the winery enabled producers to select only the best fruit and this created the finest wines possible. 

Critic reports suggested that quality was better than expected and there is a selection of outstanding wines on offer that will bear comparison with the very best and various châteaux have produced some of their highest ever rated wines.

Prospective buyers have been expectantly waiting for the 2021 vintage’s scores and prices. Release prices were expected to be lower than those of the top rated trilogy of 2018, 2019 and 2020 as this is a different style of vintage from a challenging year. However, there were economic reasons that could justify price rises such as inflation, wine shortages and the US dollar’s appreciation against the Euro.

In general, wines have been released at the same price as 2020 – just 1% lower on average. However, some châteaux released at up to 15% discounts, while others at up to a 15% premium with lower scores than last year.

Discover our analysis and the fine wines we recommend fully in this report. While it was a mixed vintage, there are some excellent wines on offer at attractive prices.



Bordeaux Vintage Report