The 2011 campaign continues to unfold at a wearyingly slow pace. All was quiet on the EP front this morning, save for the release of Du Tertre. At €20.9 per bottle (ex-negociant), the new vintage is down 12 per cent on 2010. (See the Liv-ex En Primeur Pages for the latest news, prices and scores.)
As outlined in yesterday's index update, high 2011 prices have knocked the market's confidence. As a result, fine wine prices edged lower in April and the Liv-ex Indices posted losses. Burgundy and Champagne, however, fared better than Bordeaux.
The Liv-ex Champagne 25 Index measures the performance of 25 of the world's most sought-after Champagnes. As the chart below shows, the benchmark barely moved last month and is up 2% year to date. The Liv-ex DRC Index, which tracks the price movement of Domaine Romanee Conti's leading crus, also outperformed the rest of the market. Buoyed by strong demand for Richebourg and Echezeaux, the index rose 2% in April and has gained 4% since the start of the year.