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June 2005. Bordeaux,
which boasts the most famous vineyards on earth, is
multi-faceted.
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The most prestigious vineyards in the world go hand in hand with the highest prices.
Prices of transactions in the generic appellations are falling.
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How can this situation be analysed in a difficult context?
Sales of wineries have picked up since 2004, with a 19% increase in area and a 53% increase in value.
In 2004, nineteen sales were recorded for a sum of over 2 million euros, including 3 at over ten million euros in the areas of SAINT EMILION and the MEDOC.
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These transactions alone explain the increase in the overall average price which rose from 70,924 euros per hectare of planted vines in 2003 to 90,789 euros per hectare in 2004. |
| The MARGAUX, PAUILLAC and SAINT JULIEN appellations, for example, reached the average figure of 457,000 euros per hectare. |
On the other hand, several AOCs have remained stable, such as the LALANDE DE POMEROL, at 198,200 euros/hectare, SAINT-ESTEPHE at 233,500 euros/hectare, the HAUT MEDOC and the MEDOC at 68,600 euros/hectare.
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The average at SAINT-EMILION stands at 228,700 euros/hectare, but for the satellite appellations, the initial transactions in 2005 indicate a drop in comparison to 2004 to 131,400 euros/hectare.
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The drop in prices is even more noticeable in the generic appellations
Bordeaux red and Bordeaux white stand at 18,300 euros/hectare, the ENTRE DEUX MERS at 18,600, the COTES DE BOURG at 38,100, the COTES DE BLAYE at 27,400 and the GRAVES appellation has dropped from 45,700 euros/hectare to 38,500.
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Will the drop that has been observed since the start of 2005 continue?
The difference will be less following a change in the attitude of the worst hit owners.
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In the Bordeaux generic appellations, it would appear that growers prefer to pull up their vines to benefit from the premiums of 15,000 euros/hectare, depending on the relevant plots.
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This notion is gaining ground.
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We shall give you an update at our meeting in October 2005 on the web site www.francevignobles.com |
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