Lafite's out – at double last year's price!

The first of the 2003 Bordeaux first growths has finally been released, almost two months after the first en primeur price was announced. To  general astonishment, the price to the trade is more than twice what it was in 2002 (admittedly a considerable reduction on the previous years) and this first tranche is said to constitute just half the amount released initially last year. 

Charles Chevalier, the highly competent and increasingly avuncular manager of Lafite, told me that yields at the property had averaged only 33hl/ha in 2003 as opposed to an average  most years of 45hl/ha, which will doubtless be used as...