By: Richard Woodard – To coincide with the London International Wine Fair, this month’s management briefing is for all you wine companies out there, particularly those with Australian leanings. Richard Woodard offers an in-depth look at Australia’s wine industry in this four-part briefing for May 2011. In part three, Woodard turns his attention to the thorny subject of production.
For years, Australia went a bit crazy with the planting of new vineyards, encouraged by tax breaks and cushioned by Continue reading “The Australian Wine Industry – Part III: Production”
By: Richard Woodard
To coincide with the London International Wine Fair this month, just-drinks’ latest management briefing is for all you wine companies out there, particularly those with Australian leanings. Richard Woodard offers an in-depth look at Australia’s wine industry in this four-part briefing for May 2011. Part one considers the export landscape.
Just a few years ago, it seemed that the Australian wine juggernaut was unstoppable. Then, 15 years of consecutive export sales growth came to a juddering halt, to be followed by three consecutive years of decline, including a 9% fall in export sales by value during 2010. Can the country’s producers stop the rot in 2011? Continue reading “The Australian Wine Industry – Part I: Export Markets”
Richard Woodard – The 30th annual Auction Napa Valley raised more than $8.5m, up nearly 50% on last year, but still well short of its pre-recession high. The highest-value wine lot at last weekend’s event included eight magnums of Colgin Cellars’ Cariad, which fetched a total of $1m when Ann Colgin agreed to quadruple the amount of wine offered.
Meanwhile, Hong Kong-based bidder MK Koo was particularly happy to spend $200,000 on a single six-litre bottle of Screaming Eagle: ‘It was top of my list, first because it’s a great wine and second because it’s easy to carry home,’ he said. Continue reading “Auction Napa Valley doubles last year’s takings”
Richard Woodard – Champagne’s stiffest competition comes not from Prosecco, Cava or English sparkling wine – but from Viagra, according to Pierre-Emmanuel Taittinger. Speaking at the Reuters Global Luxury Summit last week, the Taittinger chief executive also predicted that Champagne exports to China will outstrip the US within 15 years. Continue reading “Viagra is Champagne’s major threat”
Richard Woodard – Chateau Latour has beaten Margaux and Lafite to be the wine of the 2009 Bordeaux vintage, according to a survey of the international wine trade.
Meanwhile, Calon-Ségur was the winner in value for money terms, and Cos d’Estournel was the most disappointing wine of the harvest, according to the poll conducted by fine wine exchange Liv-ex. Tasters gave the vintage as a whole an average points score of 96 out of 100, narrowly ahead of 2005 (ranked 95+). Continue reading “Latour is top wine of Bordeaux 2009, says survey”
Richard Woodard – US authorities have announced a clampdown on imports of Pinot Noir from the Languedoc in the wake of the Red Bicyclette scandal. The new restrictions mean that, with immediate effect, importers will have to secure a declaration from the French government stating that the wine has been produced in accordance with appellation rules and French law.
Regulatory body the Alcohol and Tobacco Tax and Trade Bureau (TTB), part of the US Treasury, has circulated the new rules to wineries, bottlers, importers and wholesalers across the US. Continue reading “US clamps down on rogue Pinot Noir”
Richard Woodard – US wine export volumes fell 15% in 2009, impacted by the global economic downturn and a tough year in the highly competitive UK market. According to figures released by California’s Wine Institute, shipments were down 14.9% to 417.9m litres, and dipped 9.5% by value to US$911.8m – after topping the US$1bn mark in a record-breaking 2008.
But Wine Institute president and CEO Bobby Koch pointed to a 16% rise in sales during the fourth quarter. ‘The California wine industry was not immune to the global recession, but fared better than most wine-producing countries,’ he said. www.decanter.com
Richard Woodard – A San Francisco court has upheld an award of US$30m to the former CEO and ex-winemaker of Joseph Phelps for their share in the renowned Napa winery. But the 18-month court battle is set to continue after the company signalled its intent to appeal against the decision of San Francisco Superior Court Judge Peter J Busch.
Former Joseph Phelps CEO Tom Shelton died at the age of 55 in July 2008, leaving his wife, Laurie, and five children. Two months later, an arbitrator awarded him more than US$12m, and US$11.85m to winemaker Craig Williams, for their share in the winery.
However, Joseph Phelps contested the decision, arguing that incorrect standards of law and evidence had been used. The sum has now risen to US$30m, including more than US$2m in attorneys’ fees and interest accruing at 10%. Forrest Hainline, attorney for Shelton and Williams, said of the most recent court decision: ‘Tom Shelton and Craig Williams built the Phelps winery and reputation. ‘I am pleased with the award, but saddened that Tom did not live to see justice done, and disappointed that Joseph Phelps and his cohorts continue to try to resist justice being done.’ www.decanter.com
Richard Woodard – Traditional wine-producers like France must bolster their domestic markets as well as pursuing exports, according to a wide-ranging new report. At the same time the ‘New New World’ – led by Brazil, India and China – will become competitors as well as future markets.
The warning comes from France’s team of foreign trade advisors the Comité National des Conseillers du Commerce Extérieur de la France (CNCCEF), which says countries currently viewed as future growth markets will become threats as well as opportunities as they develop their own wine industries. Continue reading “New threat to France: the New New World”
Richard Woodard – Collapsed wine merchant Cockburns of Leith has been rescued by a drinks wholesaler owned by former Glasgow Rangers Football Club chairman Sir David Murray. Edinburgh Wine Importers acquired the Cockburns name, customer listings, book debts and some of the stock from Ernst and Young, who took over when the company went into administration a week ago.
Sir David is a noted wine collector who also owns Château Routas in Provence, and Domaine Jessiaume in Santenay. His company, Murray International Holdings, is currently trying to sell its controlling stake in Rangers Football Club, with Sir David standing down as club chairman last year.
Cockburns, Scotland’s oldest wine merchant, once counted Sir Walter Scott and Charles Dickens among its customers, but has seen its orders dwindle during the economic downturn. www.decanter.com
By Richard Woodard – Asian fine wine buyers have shrugged off the downturn to spend just under HK$53m (US$6.8m) in a single day at a record-breaking Sotheby’s auction in Hong Kong. The sale at the Mandarin Oriental Hotel on Saturday sold all 840 lots, comfortably beating pre-sale estimates of HK$40m (US$5.1m) and breaking Sotheby’s record for a single day auction. Continue reading “Sotheby’s fine wine auction breaks more records in Hong Kong”
Richard Woodard - Distell has been ordered to change the advertising, packaging and website for its Two Oceans wine brand after advertising authorities ruled that it was misleading consumers. South Africa’s Advertising Standards Authority (ASA) made the ruling following a complaint from rival wine producer Cape Point Vineyards. Distell may appeal, it said today (15 December). Continue reading “SOUTH AFRICA: Distell loses Two Oceans wine ruling”
Richard Woodard – South Africa has become the first country to approve a new hi-tech process which uses light energy to purify wine – and claims to dramatically reduce the need to add sulphur. The SurePure system transmits ultra-violet energy to deactivate microbes found in liquids, eliminating potential harmful effects by stopping the microbes from replicating. Continue reading “SurePure technology approved in South Africa”
Richard Woodard – Advanced DNA identification techniques could be used to prove the origins of fine wines, helping in the fight against fraud and counterfeiting, says a hi-tech US company. Continue reading “DNA technology can be used on fine wine”
Richard Woodard – Torres has become the latest wine producer to pull out of this year’s Vinexpo event in Bordeaux, joining fellow high-profile absentees Gallo and Constellation. The Spanish company, which usually has a large stand in the event’s main exhibition hall, said it would use the money saved to support its growers. Continue reading “Torres pulls out of Vinexpo”
Richard Woodard -Not surprisingly perhaps it is the effects of the global economic downturn that have dominated the wine pages of just-drinks over the past year. Richard Woodard reviews a difficult year for the international wine business and assesses the chances of things improving in the immediate future. Continue reading “Wine review 2008: Wine industry buffeted by economic storm”
