Bordeaux 2023

Introduction

For Alexander and I, En Primeur time now covers two weeks with one week devoted to the Right Bank and the second week devoted to the Left Bank. I am writing this introduction during the weekend of 20/21 april separating these two phases. The weather has been glorious and sunny during the daytime but for the last three days, we have woken to the whirrings of wind turbines, designed to stir up the freezing air and stop frost attacking the nascent buds. That this is happening during one of the most contested En Primeur Campaigns of modern memory, serves as a useful metaphor to the drama and the tension that is currently reigning in Bordeaux. The fact that the selling of these illustrious wines will begin just days after the wine trade has returned home to ponder their tasting notes (before the May 1st holiday) has also sent a riff of jitters throughout Bordeaux.

Before we examine the market conditions which serve as the background to the release of the 2023 vintage in Bordeaux, we should have a quick overview of the weather. The main factors that set the tone for the vintage were on one side heat and drought and on the other, humidity. Even if several producers greeted us with happy faces as their production, especially in Margaux, Saint-Julien, Pauillac and Saint-Estèphe in the Médoc and Pomerol on the Right Bank, finally reached acceptable yields, Bordeaux is still in decline with a 20 % drop in production over the last three years. In general, 2023 was a warm year with average rainfall. Both bud break and flowering were early and successful but Spring rains that were intermittent through June brought the risk of mildew to many appellations throughout the region and led to yields being decimated in some cases.

The summer was warm but not too hot and cloudy conditions protected the grapes. Many producers spoke about how complicated those summer months were as they spent hours in the vineyards fighting mildew, crop thinning and managing their canopies. Those producing white wines, found their summer holidays cut short for the third year running as harvest began around the 24th of August.

There were a couple of heat peaks at the end of August and during September which led to fears that pickers could not be expected to harvest all day long in torrid temperatures but after this period, the weather stabilized with a long Indian summer where tensions were relaxed, and everyone could wait quietly while their Cabernets ripened. You can taste the results of this respite especially in the quality of the Cabernet Sauvignons on the Left Bank.

2023 is a classic, Oceanic vintage with its high acidity and tannins but there is a modern touch, contributed by all the investment into parcel selection and precision, which shows in the brightness of the fruit and the polish of the tannins. 2023 is also a vintage that has been born in a difficult time for the world’s economy and with war and politics dominating our news, it is cheering to see the genuine pleasure and enthusiasm that the 5,000 journalists, merchants, wine buyers and importers feel when tasting the wines En Primeur. However, we live in an uneven world and this vintage which highlights the greatest terroirs is not as homogenous as 2022. The best wines are superb and will become modern classics; for other wines, their appealing prices and delicious accessibility should make them very attractive buys.

So finally, to the market. Rising interest rates and prices for dry goods and storage are squeezing profit margins for many wine producers throughout the world. The diminishing profit is one of the reasons why prices rose with the 2021 and 2022 vintages, but the financial situation has also had a serious result on the stocks and cash available through negociants, wine merchants and importers. During En Primeur, they were in a fighting, if not visibly grumpy mood stating that if they did not judge the wines of high enough quality, they no longer felt compelled to buy them. We shall see if they hold fast to their threats. 2023 will be all about the pricing.

For us at Thienpont Wine, we will be prudent this year. If we see that the prices are not sustainable en primeur, we will adjust our purchases. However, where there are some beautiful wines, and there are many, we will buy with enthusiasm – especially with the hard to get, limited production wines of the Right Bank and several fast-improving grand cru classés on the Left Bank.

This is a year, where we really encourage you to speak to one of us about your En Primeur portfolio so that we can balance your needs between wines for medium- or long-term drinking and tailor our suggestions to the style of wine that you enjoy. We look forward to hearing from you.

Fiona Morrison M.W.