Bordeaux Not Immune From Recession

THE 2008 barrel tastings took place a couple weeks ago in Bordeaux but reports say there was one major problem this year: no one was talking about the potential of the 2008 vintage (early reports are that it could be quite good -- not 2005 quality, but better than '06 and '07). Instead, everyone was talking about the global recession and what impact that would have on Bordeaux's most prestigious châteaus.

The Bordeaux Barrel Tasting is suposed to be one of the big events of the year on the Bordeaux wine calendar as importers get a chance to taste the wine before the futures go on sale. Local media reports suggest that the event was a busy as ever (an estimated 13,000 importers, writers, and pretentious pricks* descended on the Left and Right bank for the event), but rather than talking about the quality of the wine it seems producers and importers were wondering if the futures campaign would be dead before it even got started.

Apparently, the recession is clearly being felt among French wine makers already:

Joseph Henriot, owner of Bouchard Père & Fils, reports that sales have suffered noticeably in the past three months. "Shipments have declined mainly due to the fact that the importers, distributors, restaurants and retailers are selling their stocks to get cash before reordering," he said. Louis Latour told Wine Spectator that it is reducing wholesale prices 15 percent to 35 percent for the 2006 vintage.

I'm always interested in the impact economics has on 'local' enterprises. I'll probably do a quick Google search to see how the French cheese-makers are doing.

CJS

* Oh, lighten up. It's a joke.