SHARE
COPY LINK

WINE

Chinese bidder scoops €130k barrel of Burgundy

A Chinese woman won the bidding for a coveted barrel of Burgundy wine at a Christie's-run charity auction in France on Sunday, paying €131,000 ($177,000) for her cask.

Chinese bidder scoops €130k barrel of Burgundy
French Savoy Princess Clotilde Courau (R) poses with the buyer of the prestigious "piece du president" (the chairman's item), Yan Hong Cao of China. Photo: Jeff Pachoud/AFP

It was the first time a Chinese buyer came away with the top item at the annual auction for the Hospices de Beaune charity, where around 443 wines went under the hammer.

Yan Hong Cao, the successful young bidder who won the 456 litres of Meursault-Genevrieres, is from Yunan in southeastern China and owns a chain of shops, jade mines and tea plantations.

Michael Ganne, a representative from Christie's, which has run the auction since 2005, said a significant number of Asians had attended the event and that it generated "a lot of interest, with a small volume of vintage" available.

The proceeds from the auction will be distributed among various charities.

France is a major exporter of wine to China, which has become a key, fast-growing market.

Wine consumption in the world's most populous country more than doubled in the four years to 2011, and is set to rise another 40 percent by 2016, according to Vinexpo, the industry's top trade-fair organiser.

SEE ALSO: Elite French wine-makers plant roots in China

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

FARMING

Cold snap ‘could slash French wine harvest by 30 percent’

A rare cold snap that froze vineyards across much of France this month could see harvest yields drop by around a third this year, France's national agriculture observatory said on Thursday.

Cold snap 'could slash French wine harvest by 30 percent'
A winemaker checks whether there is life in the buds of his vineyard in Le Landreau, near Nantes in western France, on April 12th, following several nights of frost. Photo: Sebastien SALOM-GOMIS / AFP

Winemakers were forced to light fires and candles among their vines as nighttime temperatures plunged after weeks of unseasonably warm weather that had spurred early budding.

Scores of vulnerable fruit and vegetable orchards were also hit in what Agriculture Minister Julien Denormandie called “probably the greatest agricultural catastrophe of the beginning of the 21st century.”

IN PICTURES: French vineyards ablaze in bid to ward off frosts

The government has promised more than €1 billion in aid for destroyed grapes and other crops.

Based on reported losses so far, the damage could result in up to 15 million fewer hectolitres of wine, a drop of 28 to 30 percent from the average yields over the past five years, the FranceAgriMer agency said.

That would represent €1.5 to €2 billion of lost revenue for the sector, Ygor Gibelind, head of the agency’s wine division, said by videoconference.

It would also roughly coincide with the tally from France’s FNSEA agriculture union.

Prime Minister Jean Castex vowed during a visit to damaged fields in southern France last Saturday that the emergency aid would be made available in the coming days to help farmers cope with the “exceptional situation.”

READ ALSO: ‘We’ve lost at least 70,000 bottles’ – French winemakers count the cost of late frosts

SHOW COMMENTS