China stocks up on Bordeaux wines for Beijing Olympics

AFP, April, 2008

BORDEAUX, France (AFP) — Chinese buyers in Bordeaux for this week's tasting of the latest and still unbottled 2007 vintage are also stocking up on earlier vintages to let the wine flow at the Olympic Games.

Speaking at a tasting in St Emilion, Chinese buyer Steven Lu and partner Ida Huang, said that with domestic demand growing, they planned to double the amount of new "primeur" wines they bought last year, while also stocking up on bottled wines for the 2008 Olympics.

"We are looking for lots of bottled wines, like the 2005's, to buy for the Olympic Games. International visitors will want wines and so will the Chinese," Lu said.

Lu, who sells to high-end hotels, restaurants and private clients in Beijing and Shanghai, said the Olympic effect would influence purchases across the board.

Asked about prices, he said he hoped the Bordeaux producers would take ...