Photo DR Clément L’hôte
Wines in greater quantities, speculation that does not stop, and vines facing the risks of global warming. This is what awaits the world of Burgundy this new year.
Will Burgundy wines have a good year in 2023? The future will tell. But trends are already emerging:
1. The (temporary) end of the shortage
This is THE good news for 2023. After a succession of vintages with limited quantities (2019, 2020 and 2021), the 2022 harvest was excellent. The latest official figure speaks for itself: 1.75 million hectoliters reached the vats in 2022, compared to 997 million in 2021. Thus, large volumes of wine will be bottled in the coming months, in this which concerns regional and communal appellations in any case, i.e. the bulk of production.
Something to relax the markets. It should be easier to find your favorite Burgundy wine in wine shops, restaurants or supermarkets this year. On the other hand, not enough to lower prices: the brutal inflation of raw material prices does not allow winegrowers to reverse their price increases.
2. Speculation not ready to stop
If the tension drops a notch on this primary market, this should not be the case on the secondary market, that of resale, in particular at auction. The excellent image of Burgundy in the world of wine, its small production on a planetary scale, as well as the growing interest of emerging markets, particularly in Asia, should lead the price of “second-hand” wines to rise again. . According to Liv-ex, the London wine exchange, the list of the 100 most in-demand wines in the world now includes 39 Burgundies. In 2017, there were 24.
3. In the vineyards: the vintage of all risks
Meanwhile, the life of the vines continues its course and the winegrowers are already working on the 2023 harvest, with pruning operations. And a first concern begins to emerge: that of a winter that is too hot. The very mild temperatures observed since December 2022 announce an extremely early budburst (resumption of vegetation) of the vine. However, the earlier the vine grows, the more it is exposed to cold temperatures. You will have understood it: it is likely to see winegrowers fighting against frost in April 2023. Scenes which, unfortunately, have been repeated in recent years.
