Crunch time for Bordeaux 2008

The last ten days have seen the top Bordeaux chateaux present their 2008 wines to the world’s critics and the trade. The wines are barely six months old and will still be in barrels until the summer of 2010, so they are by no means finished wines - merely a foretaste of things to come.

Within the next few weeks, the 2008 en primeur campaign will start – the system whereby the top chateau owners sell ‘futures’ in their 2008s to the Bordeaux negociants, or merchants, who sell them to the trade who then, in turn, sell them to you and me.

The factors that determine the success of an en primeur campaign are the quality and quantity of the vintage and, of course, the general economic climate.

In previous years (particularly very good years) the demand for these ‘futures’ considerably exceeded supply, with preference being given to existing customers. As a result, the price for each individual wine normally fluctuated upwards. But these are not normal times.

In the vineyards, 2008 was far from being a straightforward year. The spring and summer were fairly miserable, just as they were in the UK. The vintage was saved, though, by a marvellous Indian summer in September that lasted throughout the harvest, making this a good-to-very good vintage in the end.

The economic climate though, as we all know, is as bad as it gets, and for the Bordelaise the strength of the Euro makes it even worse. The trade has said that unless prices for the 2008s drop by at least 50 per cent, they won’t buy a single bottle. The chateau owners say they are listening but, of course, they won’t reduce their prices by that much and the trade will buy the 2008s.

The deciding factor in all this, however, is Robert Parker, the world’s leading wine critic. He has been in Bordeaux to assess the vintage and it is his verdict that will have the real influence on price. His prognosis is expected in a few weeks, and we wait with baited breath. ·