Chateau Palmer, a Bordeaux wine estate in the Margaux appellation, put its 2019 vintage on sale at 161 euros ($181) a bottle ex-negociant in bond, down 33% from the price of 240 euros for the 2018 wines, according to London-based online wine market Liv-ex.
Palmer is being sold at 1,998 pounds ($2,515) per 12-bottle case in the London market, compared with the 2018 release price of 2,892 pounds a case, Liv-ex said in a Twitter post.
The estate is classified as a third growth but punches above its weight in the market and is a close neighbor of first-growth Chateau Margaux, whose vineyards it adjoins. It is also just across the road from the vineyards of Chateau Rauzan Segla. Palmer has 66 hectares (163 acres) under vine and in a normal year produces around 90,000 bottles of its main wine and 20,000 of its second wine.
The estate, on gravel soil in the village of Issan close to the Gironde estuary, is planted to 47% Merlot, 47% Cabernet Sauvignon and 6% Petit Verdot, according to its website.
Palmer, like many Bordeaux producers has benefited from an influx of investment in recent years, and completed a new winery in 2013 with 54 stainless steel tanks enabling a complex blending from its various parcels. The winery cost 9 million euros and installation took three years.
Winemaker Thomas Duroux has been overseeing biodynamic certification of the estate, which took effect from 2014.