- January marks first back-to-back monthly gains since June
- Bordeaux's share of trading climbs above 80% in past week
The Liv-ex Fine Wine 50 Index of leading Bordeaux wines climbed in January for the second straight month, marking its first back-to-back monthly gains since June and erasing the declines of October and November.
The index rose to 269.17 on Jan. 29, up 1.6 percent since the start of this month and following a 1.2 percent gain in December, data on the London-based exchange’s website showed. That followed drops of 1.6 percent in November and 1.2 percent in October.
The rally comes after five years of declines in the index. The benchmark, which comprises 10 recent vintages from each of the top five left-bank Bordeaux first-growth estates, has dropped 40 percent since its peak as demand switched toward other regions such as Burgundy, Italy and California.
“It was a good week for Bordeaux, with the region taking 83.9 percent of overall market share by value, up from the previous week and well above the average for 2015,” Liv-ex said in its blog.
Bordeaux’s market share last week compared with 78.6 percent the previous week and an average of 74.4 percent for 2015, according to Liv-ex. Italian wines accounted for 3.5 percent of trading by value last week, Rhone 3.3 percent, Burgundy 2.4 percent and Champagne 2.1 percent.
Wines taking the top share of trade over the past week on the exchange were led by Chateau Leoville Poyferre 2003, which traded at 930 pounds ($1,323) per case of 12, Lafite Rothschild 2012, which traded at 3,200 pounds, and Pichon Longueville 2009, which sold for 985 pounds.