Another raft of En Primeur 2017 releases round off the week, and as we’ve seen so far during the campaign, many chateaux are reporting lower volumes due to frost damage.
Canon Gaffeliere 2017 has been released at €55.20 per bottle ex-negociant, a 16.4% decrease on the 2016 release price of €66. This represents a significant premium to the price implied by Liv-ex’s Fair Value methodology. According to Liv-ex, followers of Neal Martin could consider the 2015 vintage, which has a higher score of 95 points and is available at a discount of around 4% to the 2017, volumes of which are down 55%.
Cantenac Brown 2017 was released today at €34.80 per bottle ex-negociant, down 10% on the 2016 release price of €39. Today’s release is entering the market above a number of other recent vintages, so buyers might also consider the higher scored 2014, which is available at a 13% discount. Volumes for the 2017 are down 40%.
Gloria 2017 has been released at €25.80 per bottle ex-negociant, down 14% on the 2016’s opening price of €30. Liv-ex members voted this one among the top 10 wines of the vintage below £500, with Antonio Galloni (91-94 points) calling it “one of the most compelling values in all of Bordeaux”.
Finally, Saint Pierre 2017 has been released at €38.40 per bottle ex-negociant, down 16% on the 2016 release of €45.60. This places Saint Pierre below the line implied by Liv-ex’s fair value methodology, making it an attractive proposition to buyers seeking value.
Other releases this week include: Croix Beaucaillou at €30 per bottle ex-negociant, a 13.8% decrease on the 2016 release price of €34.80; and Phelan Segur, released at €28.80 per bottle ex-negociant, down 11% on the 2016 release price of €32.40.
