The article below was written at the start of the campaign and published in the June 2023 issue of Decanter magazine. See our Bordeaux 2022 en primeur news section for more recent updates on releases in recent weeks, and stay tuned for more analysis on how the campaign has progressed.

As early en primeur releases reflect the trend of rising prices, some wines are selling well in a cautious market.

Bordeaux 2022 en primeur releases have been testing buyers’ appetite in a relatively sluggish fine wine market, with early debuts showing price rises on last year’s campaign.

Châteaux Cheval Blanc and Angélus effectively kick-started the Bordeaux en primeur campaign in May. On an ex-Bordeaux négociant basis, Cheval Blanc 2022 was released at €470 per bottle, up 20.5% on the 2021-vintage release price, with Angélus 2022 at €350 per bottle, up 32%, said Liv-ex, a global marketplace for the trade.

Latest: Figeac 2022 released with 100-point potential

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Figeac 2022 was released today (22 June) at €252 per bottle ex-négociant, which represents a 55% jump on the release price of the 2021 vintage in last year’s Bordeaux en primeur campaign, said Liv-ex.

Figeac 2022 was offered in the UK at £3,036 per case (12x75cl in bond).

That’s a notable price jump, even in a Bordeaux 2022 en primeur campaign that has largely pitched wines as among the most expensive in recent years, backed by high ratings from critics.

Decanter’s Georgie Hindle rated Figeac 2022 at 98 points en primeur, adding it is a potential 100-point wine in-the-making. Look out for a possible upgrade once the wine is re-tasted in-bottle.

‘An incredibly impressive wine in 2022 [that is] shaping up to be the wine of the vintage,’ Hindle wrote. ‘It seems to defy the hot and dry conditions in every way [and] delivers such confidence and charm it makes it hard to resist.’

Liv-ex said the volume of wine released was down 20% on last year. Whilst the price is higher than some merchants expected, market confidence in Figeac has also been particularly buoyant following a run of high-quality vintages.

Prices have risen on the secondary market, and Figeac was promoted to Premier Grand Cru Classé A status in the new St-Emilion Classification last year.

UK-based merchant Bordeaux Index said, ‘This [2022] wine represents an important moment in history for the estate and they couldn’t have done a better job.’

Château Canon 2022 was another major release from St-Emilion this week, at €120 per bottle ex-négociant, around 33% up on the 2021-vintage en primeur release, said Liv-ex.

At £1,440 per case (12x75cl in bond) in the UK, Liv-ex said the 2022 vintage was one of the best value Canon wines on the market. UK merchant Farr Vintners said Canon 2022 was ‘massively oversubscribed and has sold out’.

Hindle rated Canon 2022 at 98 points. ‘A superb Canon in 2022,’ she wrote, describing it as ‘extremely polished and charming’.

Canon has also seen strong market momentum in recent years. Analyst group Wine Lister said high-scoring Canon 2020 has risen in price by 85% since release.

This, it said, indicated ‘potentially strong investment potential for the even higher-scoring 2022 vintage’.

Pomerol’s La Conseillante 2022 is another potential 100-point wine released this week. ‘A sensational effort in 2022, utterly fabulous and one of my favourites,’ wrote Hindle, giving it 98 points en primeur with a potential upgrade on the cards.

It debuted at €222 per bottle ex-négociant, up 42% on last year’s 2021-vintage release price, said Liv-ex. It was offered in the UK at £2,652 (12x75cl in bond), slightly cheaper than the 2018, 2016 and 2015 vintages, showed Liv-ex data.

First growths

This week has also seen the other three first growths joining Lafite on the market.

Mouton, Haut-Brion and Margaux 2022 were all released at €516 per bottle ex-négociant, up nearly 23% on the estates’ 2021-vintage debut pricng, said Liv-ex.

In the UK, Haut-Brion 2022 was £6,180 per case, Margaux 2022 was £6,192 and Mouton Rothschild 2022 was £6,216 (12x75cl in bond). Fellow first growth Château Latour no longer releases its wine en primeur.

Haut-Brion 2022 was rated 96 points by Decanter’s Hindle, with both Mouton 2022 and Margaux 2022 at 98 points.

Margaux 2022’s opening price was broadly in-line with the 2020 and 2019 vintages, showed Liv-ex data. Château Margaux 2015 is significantly more expensive than all other recent vintages. It received high ratings, and was also the final vintage of the estate’s late managing director Paul Pontallier.

Price debate likely to continue

Pricing is always a talking point at Bordeaux en primeur, but releases this year have been at the higher end of some merchants’ forecasts – and above forecasts in some cases, as previously reported.

Some top names have reportedly sold well, yet the wines are also entering a sluggish fine wine market.

Liv-ex said earlier this week, ‘There seems to be a disconnect between the prices set by châteaux, who are increasingly relying on the subset of buyers who will take their allocation regardless of price, and the general market sentiment.’

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Mouton Rothschild became the second first growth to release its 2022 vintage en primeur this morning (20 June), emerging at €516 per bottle ex-négociant in Bordeaux, up nearly 23% on the 2021 vintage release last year, said Liv-ex, a global marketplace for the trade.

Mouton Rothschild 2022 was offered at £6,216 per case (12x75cl in bond) in the UK.

Liv-ex data showed this was broadly level with the current price of the 2018 vintage, and slightly below the lauded 2016 vintage.

Decanter’s Georgie Hindle rated Mouton 2022 at 98 points. ‘One of my favourite 2022s,’ she wrote after tasting the wine en primeur. It has the concentration of the hot vintage, she said, but added, ‘this just screams elegance and finesse, and above all drinkability’.

While Mouton Rothschild’s year-on-year release price increase was more modest than some other major properties, it again underlined how Bordeaux’s 2022 vintage is being pitched en primeur as among recent greats on the market.

Analyst group Wine Lister said Mouton 2009 and 2010 were also available at a similar price to the 2022 vintage.

‘With the 2020 and 2019 offering discounts on the current release (c.14% and c.10% respectively), some buyers may consider looking for price-quality ratio in those offers,’ it said. ‘Nonetheless, with volumes down 30% and Mouton’s mythical brand, this [release] will presumably sell out regardless.’

Thomas Parker MW, buyer at Farr Vintners, said the merchant was still working out allocations for Mouton but that it was likely to sell out to pre-orders, given the reduction in volume released.

He said of the campaign in general, ‘I think [it’s] fair to say that the wines in demand have reduced release volumes, and anybody looking to buy these wines has had to pre-order to have a chance of securing an allocation at opening prices.’

Each estate has its own market context, but some châteaux have gone bigger than others on price.

Château Léoville Las Cases 2022 was released yesterday (19 June) at €230 per bottle ex-négociant, up 36% on the 2021-vintage release price, according to Liv-ex.

Farr Vintners said a ‘tiny’ first tranche was offered to buyers who bought Las Cases 2021 last year, with a second tranche then released more widely and available for £3,100 (12x75cl in bond).

‘This makes it the most expensive vintage of Las Cases in the market today after 2000, but this wine has amazing reviews,’ the merchant said.

St-Julien-based Las Cases is already considered a ‘super second’ growth, and Decanter’s Hindle said Las Cases 2022 is a potential 100-point wine. She gave it 98 points at en primeur, pending a possible upgrade once bottled. ‘One of the wines of the vintage with striking power but delivered so perfectly with everything in balance,’ she said.

In St-Emilion, Château Pavie 2022 (96 points, Decanter) was also released en primeur this week, at €300 per bottle ex-négociant, up 28.5% on the 2021 vintage opening price, said Liv-ex. It was offered in the UK at £3,756 (12x75cl in bond).

‘The 2022 comes onto the market above all vintages back to 2005,’ said Wine Lister.

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Lafite Rothschild 2022 was released en primeur this morning at €580 per bottle ex-négociant, which represents a 23.4% increase on the debut price of the Pauillac first growth’s 2021 vintage last year, according to Liv-ex, a global marketplace for the trade.

Lafite 2022 was being offered by the UK trade at £7,140 per case (12x75cl in bond).

Analyst group Wine Lister said of the Lafite release, ‘Following its recent pattern of being the first first [growth] out of the gate, Lafite 2022 enters the market above the [price of] 2021 and 2020 vintages, but below all other comparably-scoring back vintages.’

It said it expected the release to get ‘snapped up’, highlighting brand name, pricing strategy, quality and ‘reduced volumes in 2022’ as all factors playing in Lafite’s favour on the market.

Bordeaux 2022 is shaping up to be a fascinating vintage, with plenty of high scores from critics and the added intrigue of how estates dealt with extremely hot and dry conditions.

Lafite saw its earliest harvest in more than a century, said Decanter’s Georgie Hindle, who gave Lafite Rothschild 2022 98 points after tasting it en primeur. ‘A wonderful example of restraint and delicacy in a year where it was easy to overdo,’ she wrote.

However, there has also been a lot of debate within the trade about pricing levels in the Bordeaux 2022 en primeur campaign so far. A number of estates have pitched their still-in-barrel wines as among the most expensive vintages on the market.

While this has created a degree of consternation among some UK merchants, several of them also note that some top names have still sold through to buyers.

Liv-ex said earlier this week, ‘These price hikes have led to a situation where some individuals are still participating in the campaign, while others simply don’t have the funds to do so.’

Arthur Coggill, at Goedhuis & Co, said that the merchant hasn’t offered some wines, due to prices. Others have found buyers, he said, such as Brane-Cantenac, ‘where they have arguably made their best wine ever, and so the price rise did make sense’.

In the US, meanwhile, Shaun Bishop, CEO of JJ Buckley in California, said he believed Bordeaux 2022 was a vintage that held a lot of appeal to American buyers.

‘People get caught up with the price relative to past vintages,’ he said. ‘2022 will appeal to both old and new world drinkers,’ he said. ‘Plus it will be approachable early and can age. So the vintage uniquely offers more than most previous good vintages.’

He added, ‘If we consider the vintage on its own merit, we realise that the overall value that many 2022 vintage wines are delivering is very high.’

There is buyer demand for top names, he said, although he added that there is an established pattern that en primeur doesn’t work so well for all estates, especially those retailing for under €50-a-bottle.

Retail prices in the US for Bordeaux 2022 wines were around 10% higher than for the 2020 vintage, he noted.

Other big-name releases this morning include Château Montrose 2022, which debuted at €144 per bottle ex-négociant, up 26.3% on last year’s release, according to Liv-ex.

The wine was offered by UK merchants at £1,746 (12x75cl in bond), said Liv-ex. Its data showed the wine was above several recent vintages, but cheaper than the lauded Montrose 2016.

Wine Lister said the volume of wine released was down 40% versus the 2021 vintage en primeur release.

Hindle rated Montrose 2022 at 97 points, writing, ‘This carries the strength of the vintage well, focused and precise with detail and a sense of energy that is so impactful.’

Matthew O’Connell, CEO of the LiveTrade trading platform at Bordeaux Index, said, ‘Both Lafite and Montrose have been released at prices which are neither attractive relative value nor as “out there” as some other prices we have seen this week.’

He added, ‘There will be collector interest in both, but naturally less focus from those with more of a financial leaning.’

O’Connell previously said he believed the campaign overall was more one for collectors than fine wine investors.

On the Right Bank, this morning also saw L’Eglise Clinet released en primeur, while recent days have seen launches for super second star Cos d’Estournel, as well as top names Haut-Bailly, Pontet Canet and Calon Ségur.

The post Château Lafite Rothschild 2022 released en primeur appeared first on Decanter.

Château Pichon Baron 2022 was released en primeur at €134.4 per bottle ex-négociant this morning (12 June), which is up 21.7% on its 2021-vintage release price, said Liv-ex, a global marketplace for the trade. It was being offered in the UK at £1,620 (12x75cl in bond).

‘A sublime wine in the making,’ wrote Decanter’s Georgie Hindle, rating Pichon Baron 2022 at 97 points after tasting it en primeur.

Liv-ex data showed the wine was more expensive on release than other recent Pichon Baron vintages, and analyst group Wine Lister said the wine ‘may not fly with the price-sensitive, but may work with fans of the estate and buyers excited by the quality of the vintage’.

Relatively ambitious pricing has been a theme of the Bordeaux 2022 en primeur campaign so far.

Rauzan-Ségla 2022 emerged at €84 per bottle ex-négociant on Friday (9 June), up 40% on last year’s release. At £1,010 (12x75cl in bond), ‘the new wines comes at a premium to other vintages on the market’, said Liv-ex.

Strong ratings on many Bordeaux 2022 wines have invited comparisons with some of the best years in Bordeaux’s recent back catalogue, and there is also added fascination in the way winemakers dealt with hot, dry conditions of the 2022 growing season.

Liv-ex warned last week of ‘unease’ in the trade as the Bordeaux en primeur campaign enters a crucial period, however.

Prior to the Pichon Baron and Rauzan-Ségla releases, it said ex-négociant prices were up 14% on average year-on-year in the campaign so far, coming into a fine wine market that has struggled for momentum in 2023.

Some collectors have still swooped on top wines. Les Carmes Haut-Brion 2022 was ‘massively oversubscribed’, said Farr Vintners.

‘Les Carmes Haut-Brion has been released today with a big reduction on last year’s quantity,’ said the UK merchant. ‘We have allocated it as fairly as possibly with last year’s buyers at the front of the queue and this is now sold out.’

Les Carmes Haut-Brion 2022 was released at €108 per bottle ex-négociant, up 34.3% on the 2021-vintage release price, and offered in the UK at £1,320 (12x75cl in bond), according to Liv-ex.

Hindle gave the wine 98 points but said it has the potential to hit the full 100. ‘A standout success’ in the 2022 vintage,’ she said.

Wine Lister highlighted some market context. ‘Les Carmes Haut-Brion has shown strong price performance post-release over the past five years,’ it said. When this is blended with critical acclaim, the 2022 vintage becomes an ‘obvious buy’, it added.

Matthew O’Connell, CEO of the LiveTrade trading platform at Bordeaux Index, said there has been ‘healthy enough’ buyer interest in several top Bordeaux 2022 wines released so far, including Cheval Blanc, Palmer and Pichon Comtesse.

‘Demand has not been off the charts, [but] it’s been a bit healthier than one might imagine just looking at the prices.’

Rather than compare prices to 2021-vintage releases, he said he preferred to look at how an estate’s 2022 vintage compares to 2020, 2019 and 2016.

Prices have been at the upper end of the merchant’s expectations, yet some collectors have decided they want to own these ‘interesting and very high quality examples of Bordeaux’, he said.

Farr Vintners said much of the Pichon Comtesse 2022 released last week sold to pre-orders. It was offered by UK merchants at £2,046 (12x75cl in bond), said Liv-ex, which added the wine debuted ex-négociant at €170 per bottle, up 28.8% on the 2021-vintage release price.

Pichon Comtesse 2022 is a contender for wine of the vintage, and Hindle pinpointed the Pauillac second growth as another prospective 100-pointer.

She gave it 98 points at en primeur, adding, ‘One of my favourite wines from 2022, utterly seductive from the first sip, this is a stunning effort that shows the power of Pauillac in 2022 delivered with elegance and class.’

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St-Emilion 2022

Average yield:

• Average yield 41.2hl/ha, +10.7% relative to the 10-year average of 37.2hl/ha.
• Yield in 2021 27.9hl/ha which was a decrease of 30% from 2020.

Rainfall during the vintage in mm and % relative to the 10 year average:

• Pre-budburst (Nov-March) 558mm (+14.8%)
• Véraison to harvest (August-October) 67.7mm (-44.0%).
• Total: 886.1mm (-1.9%)

What you find from the 2022 wines

See the top-scoring St-Émilion 2022 en primeur wines

Search all Bordeaux 2022 en primeur ratings published so far

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Pauillac 2022

Average yield:

• Average yield 34.8hl/ha, -27.4% relative to the 10-year average of 39.7hl/ha.

Rainfall during the vintage in mm and % relative to the 10 year average:

• Pre-budburst (Nov-March) 364mm (-25.0%)
• Véraison to harvest (August-October) 61.3mm (-47.7%).
• Total: 780.2mm (-12.2%)

What you find from the 2022 wines

See the top-scoring Pauillac 2022 en primeur wines

Search all Bordeaux 2022 en primeur ratings published so far

Back to the main Bordeaux en primeur page

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Château Ausone 2022 was released at €565 per bottle ex-négociant, up 13% on the release of the 2021 vintage, with UK merchants offering the new wine at £6,800 per case (12x75cl in bond), according to Liv-ex, a global marketplace for the trade.

Fellow St-Emilion estate La Gaffelière and Margaux appellation third growth Château Palmer also entered the Bordeaux 2022 en primeur campaign this week, with ex-négociant prices up by around 16.7% and nearly 23% on last year.

The 2022-vintage en primeur campaign has set a tone for release price increases to varying degrees. Analyst group Wine Lister said ex-négociant release prices were up by 14% on average in the campaign so far.

It’s important to consider each estate’s release strategy, as well as the price and availability of similarly rated back-vintages.

Ratings have largely been high, and Decanter’s Georgie Hindle wrote in her Bordeaux 2022 verdict that many winemakers dealt well with unprecedented hot and dry conditions during the growing season – even if yields are smaller overall.

Ausone 2022 snapshot

Ausone 2022 was rated 96 points by Hindle. There is concentration and power, with summer heat evident in the 15.4% abv level, ‘but the acidity and soft mineral elements help keep the balance and frame’, she wrote. It’s early days, but Decanter has slightly higher ratings for Ausone 2020, 2019 and 2018, the latter receiving a perfect 100-point score.

At £6,800 (12x75cl in bond), it is in a similar price arena to this lauded St-Emilion estate’s 2020, 2016 and 2015 vintages, but more expensive than 2019 and 2018, according to Liv-ex data.

Current Liv-ex market price for the last four vintages of Ausone:

• Ausone 2021: £6000 | 95pts Decanter
• Ausone 2020: £6,701 | 98pts
• Ausone 2019: £5,871 | 97 pts
• Ausone 2018: £6,100 | 100pts

Wine Lister said it expected Ausone 2022 to find buyers. The wine falls slightly below the average for price increases in this year’s en primeur campaign, and also has strong quality.

‘This will encourage demand from fans of the wine, which shouldn’t have any trouble selling through in 2022, as in other years,’ Wine Lister said.

Palmer 2022

Château Palmer 2022 was released at €295 per bottle ex-[Bordeaux] négociant, which has translated to offers of around £3,576, according to Liv-ex.

Château Palmer 2022 was rated 97 points by Hindle, who described it as a ‘big wine delivered with poise’. She wrote, ‘Quite bold and charged, but I love the succulence, the perfumed fruit, chalky sensation and overall sense of confidence.’

Liv-ex data showed the wine was more expensive than many recent Palmer vintages already on the market. ‘Buyers looking for value have several opportunities among back vintages, notably the 2018, 2019 and 2020,’ said Liv-ex.

‘Palmer 2022 enters the market above all previous vintages,’ added Wine Lister.

Biodynamically-farmed Palmer has been on a strong quality run under CEO Thomas Duroux and the estate has gained greater prominence on the market.

‘We have every faith in the direction of the modern Palmer,’ said UK-based merchant Bordeaux Index, following the 2022-vintage release. It said Palmer has invested in vineyards and winemaking, describing this as an ‘unwavering determination to improve the quality of their wines, rather than their [building] facades’.

Back in St-Emilion, Château La Gaffelière 2022 was released this week at €56 per bottle ex-négociant, with UK merchants offering the wine at £684 per case (12x75cl in bond), said Liv-ex.

‘Buyers looking for value have several options among the most recent back vintages,’ Liv-ex added.

Elsewhere, St-Julien’s Château Lagrange 2022 was released at £474 (12x75cl in bond). ‘A clear success in 2022,’ wrote Hindle, who rated the wine 96 points, level with her rating for the St-Julien third growth’s 2019 vintage, tasted earlier this year.

‘This does make the 2019 look like a bit of a no-brainer at £380 (12x75cl in bond),’ said Farr Vintners in a note on the 2022-vintage release price.

However, en primeur buying decisions are about more than sheer numbers. Campaigns can represent a good opportunity to buy wines direct from the producer, sometimes in varying formats. Certain wines have a reputation for price increases on the secondary market following release, too.

At the same time, though, Bordeaux’s class of 2022 is coming into a fine wine market that has been marked be a greater sense of buyer caution overall in the early months of 2023.

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Château Lafleur 2022 was released en primeur this morning (19 May) at €610 ex-négociant, up 8.9% on the debut price of the 2021 vintage in last year’s campaign, according to Liv-ex, which quoted a recommended onward selling price in the UK of £7,440 per case (12x75cl in bond).

There has been an early trend for price rises on Bordeaux 2022 en primeur releases, partly reflecting the higher quality of the wines versus the 2021 vintage, although the scale of price increases has varied significantly so far – and market context is also key.

Analyst group Wine Lister said of Lafleur 2022, ‘As ever, this will be one of the best buys of the campaign, for those lucky enough to get their hands on it.’

UK merchant Justerini & Brooks was offering three-bottle cases of Lafleur 2022 for £1,860, alongside other releases from the Guinaudeau family portfolio.

Decanter’s Georgie Hindle rated Lafleur 2022 at 98 (98-100) points, placing it among the best vintages of recent years at this early stage of its evolution.

‘A sublime wine from Lafleur in 2022 that delivers a vibrant, electric and incredibly charming wine with subtle power,’ she wrote in her en primeur tasting note on the still-in-barrel wine – a blend of 51% Cabernet Franc and 49% Merlot.

Bordeaux 2022: Our en primeur verdict and top-scoring wines

High buyer demand for the relatively limited amount of Lafleur available means that this top Pomerol name has developed a strong reputation for price rises following en primeur release.

Liv-ex said, ‘In the release, it was noted that the Château’s aim is to be transparent and give the market confidence with a stable pricing model. As such, the release is one of the best value wines on the market today.’

Lister said, ‘The latest release enters the market comfortably below all vintages going back to 2014, and notably, 23% and 52% below current market prices of the 2021 and 2020 vintages.’

Alongside Lafleur, Justerini & Brooks was also offering the estate’s second wine, ‘Les Pensées’, en primeur at £411 per three-bottle case. Hindle rated Les Pensées de Lafleur 2022 at 96 points.

Lafleur tops chart for post-release performance

Château Lafleur was named as the top performer in terms of average price rises in the immediate years following en primeur release in Wine Lister’s recent Bordeaux study.

The group analysed release prices and current market prices across five vintages, from 2017 to 2021, prior to this year’s en primeur campaign.

Lafleur showed the highest average returns. The next four, best-performing wines were: Les Carmes Haut-Brion, Carruades de Lafite, Beychevelle, and Lafite Rothschild.

There is a long way to go for Bordeaux’s top wines from these vintages, of course, and each estate has its own market context and strategy.

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Bordeaux 2022 preliminary rating:

Reds: 4/5 

Dry white wines and Sauternes: 3.5 & 3.5/5

Bordeaux 2022 summary: Unprecedented hot and dry conditions led to small yields, highly concentrated wines with big tannin potential. Some vines suffered in the drought but many grapes adapted early on and, with careful and sensitive viticulture, were able to stay active and green until harvest with small but healthy berries. Picking dates and gentle extraction were crucial with varied strategies for vinifications and preserving acidity. Where successful, the best examples show surprising freshness and supreme charm with a large number of wines that are both immensely appealing and approachable but will also age.

We’ve now published 707 reviews online for Decanter Premium subscribers, with 220 more to come, including 60 dry whites and Sauternes.

With any new Bordeaux vintage there’s the inevitable hype – it’s the most scrutenised wine region in the world with more than 7,000 people coming this April to taste, rate and give their opinions on the new wines.

The year presented never-seen-before climatic conditions, with ‘earliest ever’ harvests, and nail bitting decisions throughout the year regarding vineyard management, cover crop usage, deleafing strategies, picking dates, maceration lengths and temperatures and ultimately the preparation of primeur samples – many the final blends but not all.

Invariably there are differences in consensus with stylistic preferences taken into account, context of estate improvement and quality compared to recent vintages, as well as wines changing depending on age of sample and environmental conditions, but 2022 has produced some genuinely unbelieveable wines that are worthy of hyperbole.

Scroll down to see tasting notes and scores for the top-scoring Bordeaux 2022 en primeur wines

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Healthy Cabernet grapes at Château Cheval Blanc during Bordeaux 2022 harvest in September

See tasting notes and scores for the top-scoring Bordeaux 2022 en primeur wines:

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Several top names have been released in the Bordeaux 2022 en primeur campaign so far this week, including Château Batailley this morning (17 May), after Cheval Blanc and Angélus effectively kick-started proceedings eight days ago.

Excitement has been building around the Bordeaux 2022 vintage, and early en primeur releases have suggested a trend for price increases versus the 2021-vintage campaign last year, although the extent of this varies significantly.

Batailley

Batailley 2022 was released at €29.50 per bottle ex-[Bordeaux] négociant, up 11% on the 2021 vintage release, according to Liv-ex, which said UK merchants offered the wine at £372 per case (12x75cl in bond).

Château Batailley 2022 is one to watch, rated 97 points by Decanter’s Georgie Hindle. ‘A gorgeous 2022, well executed and will be a clear success,’ she wrote in her tasting note for the still-in-barrel wine.

Coming soon: Our full Bordeaux 2022 verdict with en primeur scores and tasting notes

Join Decanter Premium for full access

UK merchant Lay & Wheeler said in a note to customers that Batailley is ‘always one of the most popular’ en primeur releases and the 2022-vintage debut at £31 per bottle in bond is ‘continuing the estate’s sensible pricing policy’.

Prices vary by market and currency, but Liv-ex data showed several Batailley back-vintages were more expensive than the new release, including 2019, 2016 and 2015. However, the 2019 vintage was available around a 7.5% premium to the 2022 wine, and the 2020 vintage was cheaper, it added.

Beychevelle ‘sold out’

Beychevelle 2022 was released at €67.5 per bottle ex-Bordeaux, up 17% on the 2021 release, said Liv-ex, quoting a UK merchant price of £836 per case (12x75cl in bond).

Beychevelle was listed as ‘sold out’ at both Farr Vintners and Bordeaux Index on Wednesday morning (17 May), following the wine’s release at the beginning of the week.

Decanter’s Hindle rated Beychevelle 2022 at 95 points, describing it as ‘supple, rich and velvety’. She added, ‘It’s missing a touch of acidity, but this has plenty of polish, seduction and potential to age.’

Liv-ex said Beychevelle wines tend to ‘rise in value with age, making younger vintages a good buying opportunity’.

Bordeaux prices in general don’t always rise in the years immediately following en primeur release, but analyst group Wine Lister highlighted Beychevelle’s ‘remarkable’ track record in this regard.

The 2022 vintage enters the market ‘significantly below all comparably-scoring vintages’, it said, adding the 2020 vintage has risen in price by around 41% on the secondary market. 

Carruades de Lafite 2022

Carruades de Lafite 2022, the second wine of Lafite Rothschild, emerged at €180 per bottle ex-Bordeaux, up 12.5% on the 2021 release, said Liv-ex, citing a UK merchant price of £2,256 per case (12x75cl in bond).

‘Carruades de Lafite maintains its place as one of the best price performers post-release,’ said Wine Lister. It pinpointed Carruades de Lafite 2020, which it said has risen in price by 43% over the past two years.

It’s a reputation that can inevitably add extra impetus to en primeur as a buying opportunity.

‘Despite the year-on-year price increases, the new release is the best value [Carruades] wine on the market,’ said Liv-ex.

Carruades de Lafite 2022 was scored at 93 points by Decanter’s Hindle. ‘This is zinging with energy, bite and power,’ she wrote. ‘Cleverly constructed with lots to like, will age well and has lovely Pauillac touches.’

Duhart-Milon 2022

Also from the Domaines Barons de Rothschild (Lafite) stable, Duhart-Milon 2022 was released at €60 per bottle ex-Bordeaux, up 9% on the 2021 release, said Liv-ex, citing a UK merchant price of £756 per case (12x75cl in bond).

Decanter’s Hindle gave Duhart-Milon 2022 94 points, after enjoying the balance of its ‘well textured’ tannins and high acidity, with an ‘intense but juicy’ character. ‘Ageing will incorporate 40% of new oak plus up to 15% of amphora based on current trials,’ she added.

UK merchant Bordeaux Index was particularly enthusiastic about the wine.

‘This is a must for your cellar,’ it said. ‘The run from 2018-2022 suggests that recent investments at Duhart-Milon are paying dividends and this fourth growth Pauillac is properly hitting its stride now.’

Both Liv-ex and Wine Lister said several recent vintages were available at a discount to the new release. Liv-ex said the 2019 vintage was nearly 17% cheaper.

On the Right Bank, Bordeaux Index also highlighted St-Emilion’s Château Berliquet, produced by the same team as at neighbouring Château Canon, and available at £548 per case (12x75cl in bond). Hindle rated Berliquet 2022 at 94 points.

There have been several other en primeur releases in recent days, including Châteaux du Tertre, Léoville Barton and Monbousquet.

In Sauternes and Barsac, releases have included Climens, Coutet, Doisy-Védrines and Suduiraut, among others.

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Merchants expect release prices for Bordeaux 2022 en primeur wines to increase by 7.7% on average versus last year’s campaign for the 2021 vintage, said Liv-ex, a global marketplace for the trade.

Its figures are based on forecasts for ‘ex-[Bordeaux] négociant’ prices (€ per bottle) across 10 top estates.

Prices were also set to be nearly 5% higher than for the 2020-vintage en primeur campaign two years ago, said Liv-ex.

It surveyed its membership after en primeur tasting week and prior to this week’s early releases, which have indicated prices may be towards the higher end of predicted ranges in some cases.

Bordeaux’s 2022 vintage has generated plenty of early praise and excitement among winemakers and critics, despite intense hot and dry conditions posing challenges in the growing season.

Coming soon: Our full Bordeaux 2022 verdict with en primeur scores and tasting notes

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Liv-ex also found that 77% of respondents expected buyer demand to be higher for 2022 en primeur wines than for the difficult 2021 vintage a year ago.

‘Some [respondents] noted that demand will increase because “last year was pretty dreadful” and “very poor for en primeur sales”,’ Liv-ex said.

‘Others thought demand would increase because “it is a far better vintage” and “a lot of appetite has been expressed by customers during the [en primeur] tastings”.’

There were, however, some pre-en primeur nerves in parts of the trade about how far prices might go.

Wines from 2018, 2019 and 2020 will be ‘reference points’ – Bordeaux Index

Each château has its own strategy, and the availability and price of similarly rated back-vintages can vary, too.

Matthew O’Connell, CEO of Bordeaux Index’s LiveTrade online trading platform, said in the merchant’s en primeur report: ‘The exact market context for each wine will vary, but the obvious reference points will be the 2018/19/20 [vintage] trio plus the – usually – higher priced 2016.’

He also said: ‘We think there is potential, though not yet certainty, that some of the top wines will come to be considered “top tier” reference points in the model of 2016 and 2009/2010 before that.’

Another trend to watch is the amount of wine released, following reports in recent years that some châteaux are holding back a higher proportion of stock.

Releases so far

Château Cheval Blanc and Château Angélus effectively kick-started this year’s en primeur campaign this week, as previously reported. Their 2022 vintages were 21.5% and 37.7% more expensive than last year respectively, on an ex-Bordeaux basis.

Launched in the UK at around £5,760 per case (12x75cl in bond) and rated 98 points by Decanter, Cheval Blanc 2022 was cheaper than market prices for the highly regarded 2019, 2016 and 2015 vintages, said both Liv-ex and analyst group Wine Lister.

UK merchant Bordeaux Index said Cheval Blanc had been released on ‘allocation only’.

O’Connell said on Tuesday (9 May), ‘I think it’s a price that has met with interest from collectors who see this as a compelling vintage.’ He added that not all critics’ scores have been published yet.

Cheval Blanc 2022 was by Thursday (11 May) listed as ‘sold out’ on the Farr Vintners en primeur web page, as was Léoville Barton 2022 from the Left Bank.

‘Léoville Barton sold out to our pre-orders this year,’ said Thomas Parker MW, buyer at Farr Vintners. ‘It represents real value relative to its peers when you look at the quality in the glass and the scores from the critics.’

It emerged at €64.2 per bottle ex-Bordeaux, a 15% increase on the release price of the estate’s 2021 vintage, according to Liv-ex, which said the 2022 vintage was offered by UK merchants at £780 per case (12x75cl in bond).

Among the estate’s back-catalogue, Liv-ex said the 2019 vintage ‘also looks attractive, although it is available at a slight premium to today’s release’.

Other releases have included Langoa Barton 2022, at €34 per bottle ex-Bordeaux, up 15.6% on last year’s release, and offered internationally at £428 per case (12x75cl in bond), according to Liv-ex.

‘Last year’s release has seen its price remain the same on the secondary market,’ said Wine Lister.

However, it noted high early scores from critics. ‘In light of this, the release price might not seem unreasonable – especially considering it enters the market below the comparably-scored 2019 and 2016 vintages,’  it said.

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Château Cheval Blanc 2022 was released at €470 per bottle ex-Bordeaux this morning (9 May), up by 20.5% on the equivalent debut price of the famous St-Emilion estate’s 2021 vintage, according to Liv-ex, a global marketplace for the trade.

It said Cheval Blanc 2022 was offered at £5,760 per case (12x75cl in bond) in the UK, and its data showed that, despite the price, it was still cheaper than the highly regarded 2019, 2016 and 2015 vintages.

Fellow St-Emilion star Château Angélus was released at €350 per bottle ex-Bordeaux, up 32% on the 2021-vintage release price. It had a UK case price of £4,296 (12x75cl in bond), Liv-ex said.

Today’s releases from these two big names have effectively begun this year’s en primeur campaign.

There is considerable excitement around the vintage, despite intense heat causing issues in vineyards last summer. Decanter’s Georgie Hindle said in her initial Bordeaux 2022 vintage analysis that a ‘surprisingly large number of vineyards and growers prevailed against the odds to create a wealth of exceptional wines’.

Coming soon: Our full Bordeaux 2022 verdict with en primeur scores and tasting notes

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‘A potential 100-point wine’

Decanter’s Georgie Hindle rated Cheval Blanc 2022 at 98 points during the recent en primeur tastings in Bordeaux, adding it was a ‘potential 100-point wine’ to watch.

‘An extremely gorgeous 2022 taking the best from the vintage in terms of power, concentration and structure and presenting it with elegance, purity and a kind of quiet confidence that Cheval does so well,’ Hindle wrote in her tasting note.

Cheval Blanc’s technical director, Pierre-Olivier Clouet, said everyone was surprised by a freshness in the wines after the growing season’s largely hot, dry conditions.

‘We can explain the texture, the power and the concentration, but not the freshness, that is something else that no-one understands,’ he said. Rain in June helped, and Cheval Blanc also began picking Merlot in August, earlier than usual.

Hindle scored Angélus 2022 at 97 points. ‘An excellently constructed and impressive Angélus in 2022 with tension and detail,’ she wrote.

‘Lovely clarity and layering of flavour, some strictness coming from the Cabernet Franc at this point, but there’s such class, finesse and detail. One for the long haul and will reward cellaring.’

Price analysis and vintage context

Prices were broadly expected to rise versus last year’s en primeur campaign for the more challenging 2021 vintage.

Following Cheval Blanc’s early release, analyst group Wine Lister said: ‘This release may well set a trend for the campaign of prices 20-25% up on last year.’

Early debuts from major châteaux can sometimes contribute to the tone of the wider Bordeaux en primeur release season, although each estate also has its own context and strategy.

For Angélus, Liv-ex said the 2022 wine has instantly become one of the most expensive Angélus vintages on the market.

Wine Lister said Angélus 2022’s recommended onward selling price of £368 per bottle in bond represented a 38% and 41% increase on the equivalent debut prices for Angélus 2021 and 2020 vintages respectively.

Looking at en primeur more broadly, a key question could be whether the high quality of Bordeaux’s 2022 vintage can overcome a prevailing sense of buyer caution across the fine wine market in the early months of the year. It’s too early to know whether prices will prove compelling for buyers.

Steep year-on-year release price increases may be eye-catching, but some merchants and analysts argue that releases should also be judged against the market position of similarly rated vintages in an estate’s back-catalogue.

Wine Lister said of Cheval Blanc 2022: ‘Though entering the market 22% above last year’s release, the 2022 is below the 2019 and well below 2015 and 2016 prices, suggesting that the price is likely to make sense over the medium-term, even if it is not the en primeur discount that consumers dream of.’

Cheval Blanc sits within the fine wine portfolio of luxury goods group LVMH. Liv-ex said the group told the trade prior to release to expect a ‘step change in price’, versus the previous three vintages.

According to Liv-ex, LVMH also referenced ‘current market prices for 2015, 2016 or 2019’, and also said: ‘In line with our guiding principles, we believe that Cheval Blanc 2022 will represent a compelling offer to our distribution partners and to their customers.’

Around two thirds of total production would be released en primeur, with the remaining third remaining in the cellars until the wine enters its drinking window.

Liv-ex said the release offered ‘an exciting opportunity for buyers’. Its data suggested the new release was around 16% cheaper than the current market price of highly regarded Cheval Blanc 2016.

It also noted that buyers looking for alternatives to the new release could consider Cheval Blanc 2020.

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Complicated weather conditions tested winemakers in the vineyards and cellars in Pessac and Graves in 2020 with a mainly dry and warm growing season saved by crucial rains in August.

The vintage produced structured, supple and generous red wines by producers who picked at the right time and exhibited a light touch in the winery. The best white wines have ripe, exotic fruit touches balanced by freshness and crisp acidity.

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A strong showing for Margaux in 2020 that battled with difficult growing conditions like much of the Left Bank, with estates battling with climatic extremes and dealing with drought the best they could.

Estates on clay-gravels performed well and those that harvested grapes at full maturity from the middle of September were generally successful.

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Careful extraction was also necessary in 2020, so calm and relaxed vinifications were also key to attaining elegance with no harshness.

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A large number of extremely good quality and exciting wines from St-Emilion in 2020 from estates on water-retaining soils that gave enough nourishment to the vines at critical times. The best are extremely aromatic with floral and ripe fruit scents, richly concentrated and deep cores with silky smooth, well-integrated tannins.

The less successful wines however show austerity, tightness and lean harsh tannins and / or extremely high alcohols with some above 15% and even 15.5% ABV.  Harvesting at the right time and careful extraction were key here in 2020.

Scroll down to see tasting notes and scores for the top St-Emilion 2020 in-bottle wines

Average yields in St-Emilion in 2002 were 36.7hl/ha, lower than 2018 at 39.7hl/ha and 2019 at 43hl/ha with a 10-year-average of 39.1hl/ha.

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Characterful, structured, opulent and balanced wines comprise the best from Pomerol in 2020. The deep clay and gravel with clay terroirs worked best in the hot and dry conditions that saw 55 days with no rain.

Scroll down to see tasting notes and scores for the top Pomerol 2020 in-bottle wines

Average yields in Pomerol in 2020 were 39.8hl/ha, above 2018 at 36.2hl/ha but lower than 2019 at 43hl/ha with a 10-year-average at 37.7hl/ha.

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Concentrated, plush, finessed and aromatic, St-Estèphe delivered some excellent wines in 2020 with the cool, clay, limestone and grave soils playing a part in the vines ability to deal with the intense summer heat and drought conditions.

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Stylistically St-Julien managed to produce classic, rich, opulent and fresh wines in 2020.

The average yield for St-Julien was 34.2hl/ha. In 2018 it was 42.6hl/ha, and in 2019 45.5hl/ha with a 10-year-average of 41.8hl/ha. Estates with vines nearer the Gironde faired better in terms of quantity than those further inland.

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The appellation was extremely marked by the hot weather and drought conditions creating – in general – small but juicy berries with thick skins and high levels of tannins. Although there was large variability in grape size within vineyards let alone across the entire appellation with localised rainfall in April and August causing heterogeneity.

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Pauillac saw an average yield of 37.4hl/ha in 2020, lower than 2018 at 38.5hl/ha and 2019 at 46.7hl/ha.

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