Course: Bordeaux

Class 1: Bordeaux


THE BORDEAUX MARKETPLACE

 
Major Players

In Bordeaux itself, the wine industry has three tiers

  1. Château with product to sell
  2. Broker or courtier who acts as a go-between without taking title of the wine
  3. Négociant or shipper in charge of sales and distribution
Beyond Bordeaux, there are another two tiers
  1. Importer
  2. Merchant

 

 
Getting To Market

Futures -- called en primeur in France -- reach the world through a series of phases.

It all begins with the châteaus, mainly the first-growth producers and a handful of other highly regarded estates, who effectively set the market price for a given year.

After courtiers, or brokers, take a small percentage, the right to sell the futures is passed on to the négociants, or shippers. With very few exceptions, no one...

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