Bordeaux wine is in crisis
"Bordeaux is suffering right now. Sales fell sharply, under the cyclical effect of the 2017 harvest (-40% due to the frost, editor's note), but also due to structural effects specific to the sector and changes in consumption patterns," admitted the new president of the Bordeaux Interprofessional Wine Council (CIVB), Bernard Farges
Or "image problems with multiple origins": the environment and pesticides, the image of expensive wines "whereas only a few Bordeaux wines are expensive", all these reasons are causing Bordeaux wines to decline today.
Outgoing President Allan Sichel confirmed the figures announced in April: exports grew in value by 4%, but they were in fact saved by high-end wines while the decline in export volumes reached 13%, driven in particular by the collapse of the Chinese market, where French wines are competing with untaxed Australian or Chilean wines, even though the country's economy is slowing.
There is also a drop in the harvest in 2017, which is not in favour of the Bordeaux owners, difficulties in supermarkets representing more than 50% of Bordeaux wine sales in France are noted due to a certain disaffection for red wines.
Is this the right time to invest in Bordeaux wine? Will it decline even more or will it increase in consumer esteem? What do you think of that?