The Bordeaux 2024 wines will be released early this year starting next week after the Easter Holidays.
My thoughts on the vintage must start with the weather during the growing season and harvest. Bordeaux has an Atlantic climate like ours but hotter. I am sure I don’t need to remind you that we had a very mixed spring and summer last year with above average rainfall as did Bordeaux except for August and most of September and October where the sun shone in abundance with coolish nights which was needed for a good but late harvest.
Viticultural and vinification techniques though have improved by leaps and bounds over the past few years to produce good to very good quality wines particularly for the more highly rated Chateaux which even 2-3 years ago would have been a challenge. The quality of the wines is considerably higher than we were anticipating. They are fresh and fragrant with excellent fruit and soft tannins that will be approvable early but with good aging potential (The whites which I am not commenting on yet are reputably excellent)
‘This vintage illustrates once again the technical excellence and determination of the Bordeaux region’s vignerons to get the best out of each campaign’ .Derencourt
The wines will be lower in alcohol than in 2022 and 2023 with the most successful grape once again being Cabernet Sauvignon particularly from the Northern half of the Medoc – Pauillac, St Julien and St Estephe where gravel provides instant drainage. St Emilion, Pomerol, Pessac Leognan and Margaux have also made some excellent wines.
Preliminary indications suggest price reductions of 20%+ compared to 2023, which was already 23% lower than 2022. This could bring prices in line with 2014 or even 2008. Both those vintages have subsequently delivered brilliant value and great wines, and if 2024 shows similar potential, this may be one of the most interesting propositions in years, with, at least, a select number of 4-star wines at 2-star prices.
My initial conclusion is that if prices are substantially down and the critics scores respectable then it will be a (very) attractive vintage for both collectors and investors alike.
It looks like the Bordeaux market which has faced headwinds over the last 24 months largely due to external global factors in now due to resume its historical upward trend. The timing of the 2024 vintage is well poised to take advantage of this.
More to come as the story of this complex vintage unfolds. As is our policy allocation clients positions will be protected first. Please let us know in advance of any particular wines you would like, and we will do our best to accommodate you.
