Burgundy auction posits higher prices

• From the Reuters news service

Prices for Burgundy wine jumped by more than a fifth at the 150th annual Beaune Hospices charity auction Sunday, with growers hailing a high quality vintage and a recovery in foreign demand.

The sale of wines from the Hospices domaine, conducted by auction house Christie's, traditionally gives an indication of price trends for the latest vintage and is one of the highlights of the French wine calendar. ...

Burgundy, where viticulture stretches back to at least Roman times and was nurtured during the Middle Ages by Catholic monasteries, is home to some of the world's most expensive wines. Its vineyards nestle in the valleys and slopes west of the Saone River, a tributary of the Rhone in eastern France.

Growers said the 2010 vintage produced unusually low volumes due to a late harvest and small, intensely flavored grapes.

"The very rare coincidence of these two phenomena suggests a high quality vintage," said Roland Masse, manager of the Hospices de Beaune domaine.

[Go here for the full Reuters report.]

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