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En Primeur Essay

1293 Words6 Pages

There has recently been a lot of discussion regarding en primeur, whether it is sustainable for the long term or needs urgent changes or a holiday (Atkin, 2012). However, as I pointed out earlier the trade of fine Bordeaux wines cannot be restricted to en primeur, one needs to consider the whole value chain. As we have seen earlier how the trade system of Bordeaux works let me briefly summarize the main advantages and disadvantages of the system.

STRENGTHS
First of all, the en primeur campaign every spring following the harvest for nearly four months the new Bordeaux vintage is in the centre of attention of press, merchants and the consumers. This is one of the greatest marketing machines of the wine world (Liv-Ex, 2012). It helps merchants and experts to have an early opinion of the vintage and the particular wines and with the publication of the experts’ ratings and comments helps consumers to make their decisions. One can argue that this transparency helps to make the fine wine market more efficient since releasing the wines in tranches can help to gauge market reactions and price the wine well (Supple, n.d.).
Secondly, selling the wine en primeur provides the cash flow for the chateaux to cover their production costs almost immediately after the harvest. There are evidences especially on the Left Bank that a producer can see up to 75% or more of annual turnover in 24 hours (Swann, 2012).
Thirdly, the trade system ensures that every player involved can concentrate that

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