Changyu launched 2009 en primeur wine

June 30 -- Yantai Changyu Pioneer Wine (000869) set the price of its 2009 en primeur wine at 270,000 yuan per barrel (or 225 liters) on June 29, reports the Beijing Times.

En primeur are wine futures, a way of purchasing wine before it is bottled.

Changyu AFIP Global, one of Changyu’s four wineries, was the first in China to sell en primeur wine. Its 2006 en primeur wine was priced at 180,000 yuan per barrel. According to a wine dealer, a barrel of Changyu en primeur wine could be sold at 330,000 yuan after one-and-a-half years, generating an annual yield of more than 20 percent.

Changyu AFIP Global will cooperate with the private banking department of the Industrial and Commercial Bank of China (6013998, 1398.HK) to sell en primeur wine with an annual yield of five percent.