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D3 COPY Stage I > 2 - Bordeaux > Flashcards

2 - Bordeaux Flashcards

1
Q

Name the main rivers in the region

A

River Garonne + River Dordogne = Gironde Estuary

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2
Q

Name the three largest sub-zones and describe their location relative to the main rivers of the region

A

Left Bank - west of Garonne and Gironde
Right Bank - east of Dordogne and Gironde
Entre-Deux-Mers - between Garonne and Dordogne

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3
Q

What are the seven most planted grapes and give the % of ha planted for each

A

Merlot 60%
Cabernet Sauvignon 20%
Cabernet Franc 7%
Other Black grapes (combined) >5%
Semillon 5%
Sauvignon Blanc 5%
Muscadelle >5%

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4
Q

Outline major historical developments in the region’s history (3)

A

c17/18th - Medoc peninsula drained by Dutch merchants

Mid-c18th - properties like Lafite and Margaux enjoy int’l reputation

1855 - formal classification of left bank properties

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5
Q

Outline how the 1855 classification was established (3)

A

Bordeaux chamber of commerce asks merchants to rank estates

Estates of Medoc, Graves and Sauternes placed into bands - five for Medoc and Graves, three for Sauternes

They did so based on price

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6
Q

How large is the area under vine?

A

110,000ha

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7
Q

Roughly breakdown the distribution of price brackets (2)

A

Inexpensive or mid-priced = 70%
Premium or super-premium = 30%

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8
Q

Describe the climate of Bordeaux and how it is changing (5)

A
  • Moderate, maritime
  • Atlantic provides a cooling influence and brings rainfall
  • Rainfall is an average of 950m but varies
  • Rivers provide a moderating influence on temperature –> frost
  • Climate change has brought hotter, drier summers with low rainfall
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9
Q

Explain why the climate of Bordeaux varies between sub-regions

A

Medoc - somewhat protected from Atlantic storms by Landes pine forest

Graves, Listrac and northern Graves - less protected by Landes and thus cooler
–> example

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10
Q

Describe the weather conditions that characterise the best vintages in Bordeaux (4)

A
  • Gentle heat throughout the growing season –> ripening
  • Sufficient rainfall –> growth and ripening
  • Relatively dry and warm autumn –> steady final ripening
  • No excessive rain during flowering or veraison –> fruit set and ripeness
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11
Q

How can excessive rainfall contribute to vintage variation? (4)

A
  • Flowering –> fruit set
  • Growing season –> disease pressure
  • Veraison –> ripeness, disease
  • Harvest –> flavours, disease
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12
Q

Explain how climate change has impacted Bordeaux (3)

Example x1

A
  • Hot summers with insufficient rainfall
  • Grape varieties are heat tolerant BUT…
  • Ripening speeds –> acidity and alcohol –> balance
  • E.g. 2003
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13
Q

Outline the main climatic hazards and the impact they have in terms of yield/quality (4)

A
  1. Untimely and excessive rainfall - see card #11
  2. Hot / dry summers - see card #12
  3. Frost - yield
    - Best sites in Medoc are protected by the moderating influence of Gironde
    - 2017 saw 1/3 reduction cf 10-yr average –> financial implications
  4. Hail - yield (+ quality via fungal disease) –> more widespread and destructive
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14
Q

Describe the soils and how they impact grape growing

  • Gravel (5)
  • Clay (3)
A

Mix of clay, sand and gravel

Gravel - mainly found in Medoc/Graves

  • Drains extremely well –> wet climate –> ripening
  • Hotter years (e.g. 2003/05) vines can be drought-stressed esp. with shallow soils e.g. Pomerol (soils 1m deep)
  • Retains heat - absorbs and gradually releases warmth after a hot day –> ripening speed
  • Ideal for ripening Cabernet Sauvignon
  • Significant patches on Right Bank esp. on limestone and gravel section near Pomerol

Clay - mainly on Right Bank/Libournais

  • Less well-drained, cooler, fertile
  • Ideal for ripening Merlot
  • Pockets on the Left Bank e.g. Saint Estephe but lower quality
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15
Q

Describe characteristics of Merlot incl the following:

  • Budding and ripening
  • Vulnerabilities
  • Favoured soils
  • Ideal vintage conditions
  • Flavour characteristics
  • Structural characteristics
A
  • Early budding and mid-ripening –> frost, autumn rain
  • Coulure, drought, botrytis –> yields, sorting
  • Clay soils –> temp, berry size
  • Ripens well in cooler vintages, relatively fast sugar accumulation –> warmer years
  • Med-pronounced intensity strawberry, red plum, herbaceous (cooler years), cooked blackberry, plum (warmer years)
  • Med tannin and med-high alcohol
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16
Q

Describe characteristics of Cabernet Sauvignon incl the following:

  • Budding and ripening
  • Vulnerabilities
  • Favoured soils
  • Ideal vintage conditions
  • Flavour characteristics
  • Structural characteristics
A
  • Late budding –> frost
  • Late ripening

–> required warmth –> soils

–> autumn rain

  • Vulnerable to fungal diseases esp. powdery mildew and trunk disease (Eutypa and Esca)
  • Prefers warm and well drained soil –> ripening
  • Warmer vintages –> tannin ripeness and balanced acidity
  • Violet, blackcurrant, black cherry, menthol, herbaceous
  • Med alcohol, high acid and high tannin (small berries)
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17
Q

Describe characteristics of Cabernet Franc incl the following:

  • Budding and ripening
  • Vulnerabilities
  • Flavour characteristics
  • Structural characteristics
A
  • Early budding –> frost
  • Mid ripening –> autumn rains
  • Vulnerable to coulure
  • Red fruit, leafy if picked early or canopy dense
  • High acid, medium tannin
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18
Q

Describe characteristics of Malbec incl the following:

  • Vulnerabilities
  • Flavour characteristics
  • Structural characteristics

When was it largely replaced, with what and why?

A
  • Vigorousness, coulure
  • Violet, plums
  • Med acidity, med(+)-high tannin

NB Mainly replaced by Merlot after 1956 frost - easier to grow

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19
Q

Describe characteristics of Petit Verdot incl the following:

  • Budding and ripening
  • Vulnerabilities
  • Ideal site / vintage conditions
  • Flavour characteristics
  • Structural characteristics

How is it used in blends?

Why may plantings increase?

A
  • Early budding –> frost
  • Late ripening (later than Cab S) –> tricky to ripen in cool years, autumn rain
  • Best in warmer areas / vintages
  • Spice notes
  • Deep colour and high tannin

Usually <5% as to add colour and tannin

Warmer years mean it can be reliably ripened

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20
Q

Describe characteristics of Semillon incl the following:

  • Ripening
  • Vulnerabilities
  • Yield
  • Flavour characteristics
  • Structural characteristics

How is it used in blends?

A
  • Mid-ripening
  • Vulnerable to coulure, botrytis, noble rot
  • High yields
  • Light intensity, apple, lemon, grass (if underripe). Works well with oak –> vanilla, sweet spice –> toast and honey with age
  • Med(+) acid, med alcohol, med body

Blends

  1. Dry whites - softens Sav B’s high acid and intense flavour with lighter intensity flavour, more body and lower acid
  2. Sweet - susceptible to botrytis, adds honey, dried fruit and waxy texture
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21
Q

Describe characteristics of Savuignon Blanc incl the following:

  • Ripening
  • Vulnerabilities
  • Yield
  • Flavour characteristics
  • Structural characteristics

Increasingly, how is it being used in blends and why?

A
  • Late budding –> frost
  • Early ripening –> autumn rain
  • Vulnerable to vigourousness (canopy mngt, soils), powdery mildew, botrytis, trunk disease (Esca + Eutypa dieback (if cordon trained)
  • Grass, gooseberry
  • High acidity, med alcohol, med body

Dominant or single variety dry white wines due to the popularity of the grape variety

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22
Q

Describe the characteristics of Muscadelle including:

  • Vulnerabilities
  • Flavour characteristics
  • Which wines it is usually used in
A
  • Vulnerable to botrytis - well-exposed site
  • Flower and grape
  • Used in sweet wines with Semillon and Sav B
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23
Q

What are the typical vineyard densities seen in Bordeaux and why? What are the cost implications?

A

High quality - 10,000 VPH with 1m x 1m spacing

  • Infertile soils –> vigour –> canopy density limited
  • Higher costs due to more vines purchased, trellising, specialist tractors and more time for training, ploughing and spraying BUT best use of £££ land

Lower quality Bordeaux AOC - 3000-4000 VPH

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24
Q

How are vines trained, pruned and trellised? (2)

A

1. Head trained, replacement cane pruned

  • Left Bank - Double Guyot
  • Right Bank - Single Guyot

2. Cordon trained, spur pruned

  • Rare but used by prestigious estates –> reduces yield, bunch aeration
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25
Q

What role does canopy management have to play in improving yields and quality? (3)

A
  1. Fungal disease pressure - damp climate –> mildews and botrytis –> leaf removal during summer –> aeration
  2. Sunlight interception –> ripening
  3. Reduces need for sprays –> rainfall make it more difficult for tractors to enter vineyards, washes off sprays
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26
Q

Why may removing leaves be risky? How can this risk be mitigated?

A

Increases vulnerability to sunburn and heat - e.g. 2003 –> raisins

Removes leaves later in season after hottest months have passed

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27
Q

Describe how Eutypa dieback and Esca affect the vine and how growers mitigate the problem (3)

A

Eutypa - rots the wood, reduces yield and kills the vine

Esca - tiger stripes, yield and death

  1. Soft pruning - when pruning make small cuts, allow extra wood at the cut site, allowing it to dry out and maximising opportunity for sap to flow around the plant
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28
Q

Is green harvesting popular or unpopular and why?

A

Increasingly unpopular - removing bunches to correct yield can cause unbalanced growth, better to prune so the vine has fewer buds in winter

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29
Q

What is the typical yield in Bordeaux? How has this changed? What has the impact been on the wine?

A

50hl/hA today

Yields fell over past 20 years

Better concentration - although super concentrated Right Bank wines may be jammy and lack terroir

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30
Q

Describe harvesting in terms of timing, size of teams and hand/machine harvest

A

Timing

Previously - teams hired for short period which dictated picking, grapes picked at varying levels of ripeness

Now - teams hired for longer period and used when grapes are ready / conditions dry

Size

Larger estates have teams of over 100 people

Machine vs Hand

Machines used for quick harvesting (to avoid rain and disease), due to remoteness of vineyards (northern Medoc), the expense of workers etc –> high vol, inexpensive

High quality - hand-harvest due to quality control

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31
Q

Describe the options taken by winemakers during the initial stage of grape processing including how grapes are sorted and whether or not grapes are separated by plot

A

Sorting not used for inexpensive wines, HQ wines will see sorting by pickers during harvest, then via a conveyor belt and perhaps optical sorting if estate has £££

During best vintages HQ estates may not sort

Plot by plot winemaking for best quality producers –> extra care at harvesting and larger number of smaller vessels –> £££

32
Q

Describe the winemaking of red wines including:

  • Vessels
  • Cap management
  • Fermentation temp
  • Extraction
  • Pressing
  • Press and free-run juice
  • Malo
  • Maturation (including oxygenation)
  • Blending
A

Vessels: Closed vats incl wood, SS and concrete with temp control

Cap Mngt: Pump overs

Fermentation Temp: mid-range for early drinking, warmer temps for HQ wines intended for bottle age –> extraction

Extraction: 5-7 days of post-ferment maceration for early drinking, 14-30 days for HQ

Press vs free run- juice: usually aged separately and blended later

Malo: often in wood if used for maturation (integration), inoculated for speed and cellars heated

Maturation

  • Inexpensive: SS, concrete, large vats –> 4-6mnths, oak chips
  • HQ: 225L oak barrels, mix of ages up to 100% new oak with med or med(+) toast and different coopers –> use of new oak declining –> 18-24mnths (concentration and tannin)
  • Oxygenation: racking every 3mnths or use micro-oxygenation

Blending

EP: wine blended over winter for presentation to merchants in spring –> inferior lots classified as 2nd or 3rd wine or sold to a merchant in bulk (most estates)

Wait until post-maturation to blend –> better able to assess evolution (small number of estates)

Consultant hired to assist process

33
Q

Describe the winemaking for rosé wines (3)

A

Younger vine usually used - Merlot and Cab S

Clairet - deeper coloured, usually made with Saignee or short maceration as a by-product of red winemaking –> concentration of reds

Pale - via DP

34
Q

Describe white winemaking including:

Pressing

Fermentation temp and vessel

Malo

Maturation

A

Pressing: Direct pressed or skin contact for >24hrs –> freshness vs aromatics and phenolics

  • NB grapes must be fully healthy for skin-contact –> off-flavours extracted

Fermentation: inexpensive in SS at cool temp, HQ in barriques

Malo: often blocked to retain acid and freshness

Maturation

Inexpensive: few months in SS

Mid-priced: 6-12 months on fine lees in SS –> weight and complexity

Premium: barriques with % new oak

Fine sees may be stirred for texture but many avoid –> balance

35
Q

Name the two individuals who helped promote innovation in white Bordeaux winemaking and outline the changes they advocated (3)

A

Denis Dubourdieu and André Lurton

  1. Sav B
  2. Skin-contact –> aromatics
  3. Less new oak
36
Q

Describe the vineyard management needed to produce sweet wine including:

  • Yields
  • Management of diseased fruit
  • Harvesting
A
  • Low yields –> concentrate the sugar, via reduced buds per vine, 25 hL/ha max, 10 hL/ha typical for top estates
  • Diseased fruit removed as too susceptible to grey rot
  • Grey and black rot removed and noble rot selected by hand - pickers may make 10-12 passes over course of harvest
  • Harvest from Sept - Nov
37
Q

The extent of botrytis in a vineyard depends on what? (4)

A
  • Climatic conditions for noble rot to develop (humid, misty mornings + warm, sunny, dry afternoons)
  • Proximity of the vineyard to mist formation –> cold Ciron and warm Garonne meet
  • Risk tolerance of vineyards to lose crop if conditions do not develop
  • Willingness to pay harvesters for multiple passes to select botrytised fruit
38
Q

Does sweet Bordeaux wine need to be made from Botrytised fruit?

A

No - levels of Bot to late harvest vary vintage to vintage

39
Q

Describe the winemaking for sweet wines including:

  • Fermentation
  • Maturation
A

Similar to dry whites

Fermentation: SS, concrete or barrels, length of time varies –> top-quality barrel fermented (integration of oak and fruit flavour)

Maturation:

  • Less prestigious appellations: unoaked, released 1 yr after harvest
  • HQ wines in barrels for 18-36 months, 30-50% new oak up to 100% for d’Yquem
40
Q

To what extent do appellations dictate permitted varieties/blends?

A
  • Most lists permitted varieties with no specific requirements for min/max % of grapes
  • One exception is latest changes which allow from some experimental varieties within Bordeaux and Bordeaux Superier (Arinarnoa, Castets, Marselan and Touriga Nacional for reds, and Alvarinho and Liliorila) which are max 5% of blend
41
Q

Describe the wines of Bordeaux/Bordeaux Superieur AOC including structure, flavour, quality and price.

How much wine is produced in these appellations?

What are the max yields in these appellations?

A

Red

  • Merlot-based
  • Med intensity red fruit
  • High acid, med(+) tannins, med alcohol med body
  • Acceptable - good
  • Inexpensive - mid-priced

White

  • Sav B based
  • Med intensity gooseberry, lemon
  • High acid, med alcohol, med body
  • Acceptable - good
  • Inexpensive - mid-priced

Production

50% of regional production

Yields

Bordeaux - 67, 62, 60 (whites, rose, red)

Superier - 59 (reds)

42
Q

Describe the situation, plantings, yield and earliest sale date of Medoc and Haut Medoc AOC

A

Medoc

  • Situated on LB of Gironde, north of Bordeaux
  • 50/50 Cab/Merlot
  • Red wine only
  • 55hL/ha
  • Sale no earlier than June following harvest
  • Range of prices and qualities

Haut Medoc

  • Closer to Bordeaux, contains famous communes
  • Warm, gravelly soil
  • 50% Cab, 44% Merlot
  • Range of prices and qualities
43
Q

Describe the situation, soil, plantings, max yield, flavour, structure and quality of wines from Saint-Estephe, Pauillac, Saint-Julien, and Margaux

A
  • Situation: adjacent to the estuary
  • Soils: gravelly –> Cab
  • Yield: max 57
  • Flavour: Pronounced blackcurrant, green bell pepper (vintage), red plum, vanilla, cedar
  • Structure: high tannin, high alcohol, med(+) body
  • VG - outstanding
  • Premium - super-premium
44
Q

Describe the situation, soil, and plantings of Saint-Estephe.

Describe the ratings of the producers in the sub-region.

A
  • Situation: Closest to Atlantic –> temp –> tannin and acid
  • Soil: Clay (water retention in dry years) with some gravel (ripeness)
  • 40% Merlot (highest % of the four communes) –> helps soften
  • No 1st but many 2nd and Cru Bour
45
Q

Describe the situation, soil, plantings and style of wine of Pauillac.

Describe the ratings of the producers in the sub-region.

A

Situation: banks close to the estuary

Soil: gravel

Plantings: 62% Cab

Style: high tannin and acid, concentrated with ageing potential

3/5 1st growth with 85% of production rated cru classé

46
Q

Describe the soil, plantings and style of wine of Saint-Julien.

Describe the ratings of the producers in the sub-region.

A

Soil: homogenous gravel

Plantings: Cab

Style: between Pauillac and Margaux

High % of cru classe production, five 2nds

47
Q

Describe the soil, plantings and style of wine of Margaux.

Describe the ratings of the producers in the sub-region.

A

Soil: stoney + gravelly –> warmth + drainage –> harvest date (7-10 days), some seams of clay (drainage –> cost)

Plantings: Less Cab and more Merlot than P and S-J

Style: perfumed, silky tannin

One 1st, high % of CC

48
Q

Describe the situation, soil, yield, release date, quality and price of the wines from Listrac-Medoc and Moulis.

A
  • Situation: further from river –> less moderation
  • Soil: less gravel
  • Yield: 57 max
  • Good-VG
  • Mid-priced-premium
49
Q

Describe the yields, types of wine, quality and price levels of wines from Graves and Graves Superieures

A

Graves

  • Red 55 and white 58
  • 85% red
  • Acceptable - good
  • Inexpensive - mid-priced

Graves Superieures

  • Late-harvest / botrytised sweet wines with 40 (higher than Sauternes)
50
Q

Describe the situation, soils, estates, yields and wines of Pessac-Leognan

A

Situation: sub-region within Graves, moderated by Garonne

Soil: Gravel –> drainage and warmth

Estates: One 1st growth, all CC within Graves

Yield: 54 (both red and white)

Wines: HQ, barrel-aged whites and HQ reds 20/80 split

Whites: pronounced gooseberry, lemon, grapefruit, vanilla, clove. Med(+) - high acid, med(+) body, med-high alc. VG-outstanding. Prem-SP.

Reds: similar style and quality to Medoc communes

51
Q

What wines are produced in Entre-deux-Mers AOC? What is the max yield and typical quality and price level?

A
  • 2nd largest appellation - but much smaller than Bordeaux AOC
  • Only makes whites
  • 65
  • Light intensity, acceptable - good, inexpensive - mid-priced
52
Q

Briefly describe the right bank in terms of soils, estates and grapes (3)

A
  • Soils: Cool, clay
  • Merlot then Cab F, then Cab S
  • Small estates, as little as 1ha
53
Q

What is the difference in rules between Saint-Emilion AOC and Saint-Emilion Grand Cru AOC? Which grapes are planted? What is the quality level? Describe the flavour and structure of a top wine.

A

Saint Emilion - 53, min 6 months maturation

Saint Emilion GC - 46, min maturation of 20mnths

Grapes: Merlot 60%, Cab F

Quality: varies considerably within SE’s own classification system

Top wine: Pronounced red and black plum, vanilla, clove. Med(+)-high acid, med(+)-high tannin, high alc, full body. Often suited to bottle ageing.

54
Q

What are the S-E satellites and what rules do they follow?

A

Four AOCs close to S-E but further away from Dordogne.

Largest are Montagne Saint-Émilion AOC and Lussac-Saint-Émilion AOC

Follow same rules as S-E AOC

55
Q

Describe the estates, grapes, yield, classification system, style, quality and price of Pomerol AOC.

How does Lalande-de-Pomerol compare?

A

Estate size: small e.g. >12ha for Petrus vs. 80-100 for LB 1sts) –> price

Grapes: Merlot (80%), CF

Yield: 49

Classification System: none

Style: same as top S-E

Quality: VG-outstanding

Price: premium-SP

Lalande-de-Pomerol - same but with slightly higher yield

56
Q

What are the yields for Cotes de Bordeaux AOCs?

A

CdB - 55

CdB-suffix - 52

(Blaye, Cadillac, Castilllon, Francs)

57
Q

Describe the situation, plantings, style and price of Cotes de Bourg AOC

A

Situation: sites of RB of Gironde, underneath Blaye

Grapes: Merlot, Malbec (10% by area, highest in Bdx)

Style and price: similar to Medoc

58
Q

Describe the plantings max yield, production size, style, quality and price of wines of Sauternes and Barsac AOC

A

Grapes: 80% Semillon, SB, small amounts of Muscadelle

Yield: 25 max, lower is typical –> ripeness before development of rot

Pronounced citrus peel, honey, mango, vanilla

  • Med-med(+) acid, sweet, full-body
  • VG-oustanding
  • Mid-priced - SP
59
Q

How have Sauternes producers responded to a lack of demand for their wines?

A

Producing dry wines

60
Q

Which appellations produce sweet wine?

A

Sauternes AOC

Barsac AOC (may label wines are Sauternes)

Sainte-Croix-du-Mont AOC and Loupiac AOC - 40 hL/ha, may use late harvest or botrytis, good-VG, inexpensive-mid-priced

Premières Côtes de Bordeaux AOC - 45 hL/ha, may use late harvest or botrytis, good-VG, inexpensive-mid-priced

61
Q

Briefly outline the four official classification systems used in Bordeaux

A

1855 - 61 estates in Medoc, red and sweet 1st-5th growth, estate-bottled

Graves - 1959, 16 estates in P-L, red and white, no ranking, based on pricing, fame and quality

S-E - 1955, applies within S-E Grand Cru, revised every decade, three tiers

Crus Bourgeois - 1932, awarded annually to individual wines, three tiers

62
Q

Describe the 1855 classification including sub-region, basis, producers, ranking, quirks and revisions.

A

Sub-region: Medoc (+ Graves)

Based on: prices achieved by Chateau in 1855, wines must be estate bottled

Producers: 61 estates

Ranking: 1st to 5th growth for reds and 1st and 2nd growth for Sauternes

Quirks: d’Yquem has its own rank, Premier Cru Superieur, Haut-Brion is only Graves property included

Revisions: mostly unaltered apart from the promotion of Mouton Rothschild in 1973

63
Q

Describe the S-E classification including which sub-region, basis, tiers and controversy.

A

Sub-region: S-E Grand Cru AOC

Basis: 10-yearly review looking at terroir, methods of production, reputation, ‘commercial considerations’, blinding tasting of >10 vintages

Tiers: Premier Grand Cru A, Premier Grand Cru B and Grand Cru Classé

Controversy: lawsuits have damaged reputation, use of term ‘Cru’ criticised as misleading

64
Q

Describe the Crus Bourgeois du Médoc classification including which sub-region, basis, tiers

A

Sub-region: Medoc

Basis: awarded on wine, rather than producer basis; year-by-year based on production method and tasting

Revisions: since 2018 producers will be ranked Cru Bourgeois, Cru Bourgeois Supérieur and Cru Bourgeois Exceptionnel for five years

65
Q

How many producers are there and what is the average property size? How has this changed?

How much many bottles are produced annually?

What proportion of production do co-ops account for?

A

7000 ‘Chateaux’ –> falling

Average size 19ha –> rising

800m –> fluctuates by vintage

Co-ops: 25% of production in 2018

66
Q

Outline the % of ha accounted for by:

Bordeaux AOC

Medoc and Graves

Cotes de Bordeaux

S-E, Pomerol, Fronsac

Dry whites

Rose

Sweet

Cremant

A
67
Q

What is the average cost of production of a bottle of Bordeaux AOC, Medoc, and classed growth? What accounts for the difference in cost?

A

Bordeaux AOC - €0.57

Medoc - €2.35

Classed growth - €16.00

Does not include land costs or interest on loans

Differences due to…

  • increased vine density
  • harvest cost
  • lower yield
  • rigorous grape selection
  • barrel ageing
68
Q

What has become an important tool in marketing wines from this region?

A

100-point rating system e.g. Robert Parker

69
Q

What is the value of Bordeaux production and where is it sold (country, business type)? (4)

A

€4,000m (‘18)

56/44 Domestic/Export

Domestic - 48% in supermarkets (average price €5.80)

Export - HK, China, US, UK (higher average price)

70
Q

Describe the La Place de Bordeaux (4 plus diagram)

A

Merchants (la place) account for 70% of sales

Brokers (la place) handle relationships between producers and merchants

Each producer sells to as many as 40 different negociants who cover a total of 170 countries

Amount of wine available to each negociant based on allocation

71
Q

Describe the market for Bordeaux and Bordeaux Superieur

A

Majority of production

About €1/L in bulk

Lower demand from France - supermarkets

Competition from Chile, Australia in export

Produced by co-ops and small producers and sold wine/grapes to large wine companies

72
Q

Briefly give an overview of the EP system (5)

A

Used to sell classed growth and other HQ wines

Futures: wine sold in spring following harvest, 12-18mnths before bottling

Campaign starts in April - barrel samples tasted by buyers and journos

May/June - reviews released and prices

Tranches released and prices adjusted (usually upwards) finishing with individual customers through fine wine merchants

73
Q

What are the pros and cons of the EP system?

A

2011 - relatively poor vintage saw prices little changed, eventually prices corrected meaning EP buyers lost money

Ch Latour has withdrew from EP system in 2012, several other Chateaux have reduced volumes via EP –> these producers can afford to sell their wine at ageing

2017 campaign saw much lower volumes due to relatively poor quality without similar price adjustment

74
Q

Describe the process of tasting, pricing and tranches used in the EP system (4)

A

April - 5000-6000 journos and buyers taste barrel samples

May-June - Chateaux release first tranche, price determined by rep and reviews, used to gauge market’s appetite

Subsequent tranches - available for trade buyers, price adjusted based on demand but usually increases

Final tranche - available for private buyers via fine wine merchants

75
Q

Describe the relationship between vintage, price and quantity (3). What happened during the 2011 and 2017 EP campaigns? (2)

A

Lesser vintages should lead to lower-priced wines

But top estates has allocated wines to which buyers are eager to preserve their access –> they may continue to pay similar prices to better vintages

This can result in unsold wine for years following the EP campaign - hit to profit

2011 - relatively poor vintage saw prices little changed, eventually prices corrected meaning EP buyers lost money

2017 campaign saw much lower volumes due to relatively poor quality without similar price adjustment

76
Q

What does the price of EP wine exclude, how is it stored and delivered? (3)

A

Price is ex-cellar so excludes taxes

Stored in temp/humidity controlled unit until ready to ship to retail or fine buyer wants to sell or deliver it for drinking

The secondary market for 1st growths is particularly strong

D3 COPY Stage I (55 decks)

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