Chateau Gazin, a Pomerol estate on Bordeaux’s right bank, cut the price of its 2012 wine futures to 39 euros ($51) a bottle, 7 percent down from the 42 euro release price for its 2011 wines, Decanter.com said.
Gazin marks the first major Bordeaux futures release following last week’s trade tastings, according to Decanter magazine’s website. Etablissements Jean-Pierre Moueix announced prices in the Belgian market earlier this month about 15 percent below last year’s levels, and while Bordeaux merchants reported brisk sales of Gazin, U.K. merchants said the drop didn’t fully recognize market conditions, Decanter.com reported.
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