The first Bordeaux 2022 En Primeur releases are expected early next month. Ahead of the campaign, we examine the key factors that shaped the 2022 vintage and the current market for Bordeaux.
Vintage overview
Bordeaux 2022 is full of promise. Early critical reports suggest that the winemakers have overcome the challenges of the growing season, characterised by extreme heat and drought, and have achieved quality on par with the recent trilogy of great vintages, namely the 2018, 2019 and 2020.
Rainfall levels in 2022 were similar to one of Bordeaux’s greatest vintages, the 2010, although temperatures were higher last year. According to Bordeaux expert, Jane Anson, this led to ‘small grapes, thick skins, and clear concentration’.
While one might expect to find ripeness and boldness in the wines, the first En Primeur tasting report, published by James Suckling last week, suggested that the winemakers have prioritised freshness and lower alcohol, and that the resultant wines have fine structured tannins. Moreover, the critic noted consistent excellence from bottom to top.
However, the apocalyptic hailstorms in June devastated the crop at some estates but provided needed respite from the heat for others. As such, there will be variation in yields between the chateaux.
In terms of overall volumes, the 2022 vintage sits about 15% below the ten-year average but is up 9% on last year. It is also higher than the low-yielding 2013 and 2017 vintages.
Bordeaux – back in vogue
The 2022 vintage arrives in a market that is experiencing somewhat of a Bordeaux renaissance.
While on the surface Bordeaux might be losing market share to other regions, secondary market reports suggest that trade for the region has continued to increase in absolute terms: close to 50% since 2010.
Bordeaux has come to represent good value for money, in the context of Burgundy’s, and most recently, Champagne’s relentless price rise.
Moreover, as the bedrock of an investment portfolio, Bordeaux continues to offer the best liquidity in the fine wine market. There is consistent demand for the classed growths, across the full spectrum of vintages, both young and mature. As our Q1 report highlighted, some Bordeaux 2011s have broken pricing records since the beginning of the year, spurred by purchasing of ‘rabbit’ vintages for Chinese New Year. Bordeaux proves its relevance again and again.
En Primeur is only one of the ways in which the region cements its place in the world of fine wine. The annual campaign generates considerable attention from trade and critics, the volume and value of wine released is unmatched anywhere in the world, and the best releases offer excellent returns on investment – often at the lowest possible point of entry into a top brand.
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