The price of Burgundy Pinot Noir has soared 30 percent in the past few weeks, according to wine website vitisphere.
Photo courtesy of: Le Wine Guest
Burgundy the greater Burgundy wine and spirit brokers association president Jrme Prince said: should make a distinction between the ordinary Burgundy region and the AOC Burgundy Cte d"Or grade. The former has increased in price from 900 to 1200 euros per barrel, while the latter has done well, increasing from 1100 to 1200 euros per barrel.
For red Burgundy in the 2020 vintage, the summer drought affected yields, which typically range between 20% and 50% across Burgundy. bivb
With this year's wine production below previous years' levels, prices are soaring for two reasons: wineries want to keep the wine in their hands, and vintners are trying to meet the wineries' needs.
In this regard, Pierre Gernelle, president of the federation of Burgundy negociants, summed it up: from a volume point of view, there is an imbalance between Chardonnay and Pinot Noir. As long as production is low, there will be tension.
Francois Labet, vice-president of the Burgundy Wine Industry Association (BIVB), confirmed that: in general, the harvest of white wines (Chablis and Macon) was very satisfactory, but the harvest of red wines (Cote d'Or and Chalonnaise) was not good enough.
Labet stressed that there is a huge shortage of red wines, noting that the increasing availability of white wines in Burgundy has exacerbated the tightness in terms of inventory and supply.
Although BIVB expected a big harvest (about 1.55 million liters), the share of red wine plummeted.
We estimate that there will be 75 percent white wine and 25 percent red wine. In the past, the ratio of white to red grapes was typically 2:1. adds Labet.